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Fund Outsourcing Service

I. Product Overview
Fund administrative outsourcing service means the asset services that ICBC, as a service provider taking  advantage of specialized division of labor, accepts the managers' commission, provide them with fund valuation and accounting, share registration of holders, fund clearing, statements and reports, information disclosure, customer service and other financial services, charges them outsourcing service fees and assumes the corresponding responsibilities.     
Currently, outsourcing of global asset management business has been a mainstream, a practice generally adopted in the international capital market, and also an important area for financial innovation as encouraged in the new fund laws of China. The promotion of fund outsourcing will help improve the efficiency of capital market. By transferring some operational functions to outsourcing service provider, fund companies can reduce repetitive construction, achieve intensive operation, focus on investment research, and input limited resources in the enhancement of core competitiveness, thus further improving investment management. Meanwhile, the commercial bank's fund administrative outsourcing services can integrate services such as custody, settlement and account management and provide a platform for innovation in products of the asset management industry, thereby creating higher returns for investors.

II. Target Customers
i. Fund management companies;
ii. Insurance asset management companies;
iii. Trust investment companies;
iv. Securities companies;
v. Futures companies;
vi. Other institutions approved by regulators.

III. Scope of Services
i. Accounting: collate the accounting information about fund investment and operation, accurately record the changes in fund assets, and timely provide financial information and accounting statements to fund managers.
ii. Valuation: valuate fund assets and liabilities as per fair value, to determine the net value of fund assets and shares.
iii. Information disclosure: provide financial data concerning regular and irregular reports to fund managers, and assist fund managers to prepare and submit such reports.
iv. Registration (TA): provide services including account management for fund investors, share registration, clearing, transaction processing, dividend payment, establishment and keeping of fund holder register.
v. Other services: other customised requests proposed by customers.

IV. Advantages
ICBC has obtained the public fund outsourcing license issued by China Securities Regulatory Commission and the PE fund license issued by Asset Management Association of China, set up a dedicated team to provide fund administrative outsourcing services, and established a two-tier service management system of the Head Office and branches. Functions of the outsourcing center include marketing, internal control, accounting valuation, information disclosure, registration and other professional services. ICBC's core fund outsourcing service system is independently developed, equipped with general peripheral procurement system and common system outreach interface, with the purposes of ensuring basic outsourcing services while improving system elasticity, and satisfying current needs of capital market for valuation and accounting services.
Through business practice, outsourcing customers of ICBC have covered all kinds of asset management institutions on the market, and ICBC has accumulated a wealth of experience in providing comprehensive fund administrative outsourcing services for various organizations and products.

V. Business Guide
i. Business contact: customers with a request for fund outsourcing service can contact the Asset Custody Department of the Head Office or local branch or sub-branch of ICBC.
ii. Signing of agreement: an appropriate outsourcing scheme will be designed according to the features and requirements of customer’s products, with the signing of an outsourcing agreement.
iii. Outsourcing operation: outsourcing services will be provided for customers according to outsourcing agreement, including accounting, asset valuation, information disclosure and registration etc.

VI. Contact Information
If you would like to apply for any service, please contact the Outsourcing Center of Asset Custody Department under the Head Office or local branch or sub-branch of ICBC:
Liaison: Zhao Huijun, Wang Juyue, Huang Lei, Yang Jing, Ren Huaqiong, Tao Xiaoxuan
Tel: (8610)66109603/4969/5728/4925
Fax: (8610)81013684
E-MAIL: huijun.zhao@icbc.com.cn, yangjin@icbc.com.cn, zctg_hlei@icbc.com.cn, renhua.qiong@icbc.com.cn