Citi to provide Fund Administration Services to Sun Life’s First ESG Fund in Hong Kong
Citi has announced that it has been appointed Sun Life Asset Management (HK) Limited as trustee, custodian, fund administrator and transfer agent for the Sun Life AM Hong Kong ESG Index Fund.
The environmental, social and governance index strategy is Sun Life’s first fund to be registered in Hong Kong, Citi said in a press release.
Stewart Aldcroft, Chairman, Cititrust, said: “We are proud to have been selected to provide complete trustee, custody and fund administration support to Sun Life in delivering the first Hang Seng ESG 50 Index fund to investors in the Hong Kong market. Across Asia Pacific, we are witnessing steady growth in ESG funds, and I believe Citi is well positioned to support such funds given our focus on ESG.”
The Sun Life AM Hong Kong ESG Index Fund will track the Hang Seng ESG 50 Index, the top 50 Hong Kong-listed companies that perform well on ESG factors based on the Hong Kong Quality Assurance Agency’s framework. Sun Life’s fund is one of a growing number of ESG funds approved by the Hong Kong Securities and Futures Commission as it strives to build a hub for green and sustainable finance in the region.
Stanley Ngan, CEO, Sun Life Asset Management (HK) Limited, said: “We are delighted to be working with Citi following the launch of our first locally registered fund in Hong Kong. Citi has a good understanding of our needs, offers high quality service, has a robust platform, and is equally committed to sustainability.”
With over USD23.6 trillion of assets under custody and administration and the industry-leading proprietary network spanning 64 markets , Citi’s Custody and Fund Services business provides clients with in-depth local market expertise, advanced processing technologies and a wide range of fund services that can be tailored to meet clients’ needs.