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Guotai Appoints State Street As Global Custodian For New Nasdaq Linked Index

Vanessa Doctor

20 June 2010

Chinese securites firm Guotai has appointed State Street Corporation as global custodian and trading service provider to the Guotai Nasdaq-100 Index Fund.

The index fund is the first in the Mainland to track the performance of an overseas index. China Construction Bank will be in charge of its local custody.

"This opportunity is historic for Chinese investors to invest in Nasdaq-listed companies," said Sau Kwan, the managing director and senior vice president of State Street in Hong Kong.

State Street will be offering a range of investment servicing solutions to the fund, including global custody, fund accounting, investment compliance reporting, foreign exchange and portfolio research and trading.

The Guotai Nasdaq-100 opened for subscription in 22 March. Investments will be conducted via the qualified domestic institutional investor program, through which Chinese investors can gain access to foreign markets.