China Construction Bank (Asia) becomes Multifonds' latest Asian client
Multifonds, the leader in single-platform, multi-jurisdictional investment fund software, today announces that China Construction Bank (Asia) [CCB (Asia)] has become its latest Asian client.
CCB (Asia) has chosen to implement the full suite of products available on the Multifonds platform: Multifonds Fund Accounting, Multifonds Portfolio Accounting and Multifonds Global Investor.
CCB (Asia) is one of Hong Kong's leading retail and commercial banks, providing a comprehensive range of consumer and commercial banking products and services. It chose Multifonds after a competitive selection process. The bank will use Multifonds to help develop its RQFII (renminbi qualified foreign institutional investor) and alternative fund business in Hong Kong.
Michael Leung, Deputy Chief Executive & Chief Information Officer of CCB (Asia), said: "Multifonds offers us a comprehensive solution for both transfer agency and accounting that meets our growing alternative and traditional fund business needs. Specifically, it provides a breadth of functionality for alternatives, combined with fund distribution capabilities and controls."
Michael Li, Business Development, China of Multifonds, commented: "We're delighted CCB (Asia) has chosen us to support their fund accounting, portfolio accounting and transfer agency needs. Multifonds was quick to recognise the importance of Asia to the global economy, and our software supports the local regulatory requirements of all of the region's major economies. We continue to build a strong presence in the region, and look forward to working with CCB (Asia) and many more local clients that want to manage their investment servicing needs on a single, scalable platform."