State Street has been appointed as global custodian and trading service provider to the Guotai Nasdaq-100 Index Fund, the first fund in China to track the performance of an overseas index. State Street will provide global custody, fund accounting, investment compliance reporting services, foreign exchange and portfolio research and trading solutions. The fund is managed by Guotai Asset Management Co. Ltd. China Construction Bank will act as local custodian.Shelley Yang, managing director of the international business department and head of overseas business marketing at Guotai Asset Management said: "This fund will offer new opportunities for Chinese investors, and we can think of no better partners than State Street and China Construction Bank. State Street was the clear choice for this role as we were seeking a firm with a truly global service platform, offering innovative and quality solutions."
