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Citi Awarded Fund Administration Mandate from Da Cheng International Asset Management

Hong Kong - November 23, 2011 – Citi’s Securities and Fund Services, part of the Global Transaction Services division, has been appointed Fund Administrator for Da Cheng International Asset Management (DCIAM), China’s seventh largest asset management provider. This is DCIAM’s first public fund launch in Hong Kong and will be one of the first public funds launched in the city by a Chinese asset manager.

Under the mandate, Citi will provide a range of securities services to manage DCIAM’s Hong Kong-authorized funds, including trustee, fund administration, transfer agency, global custody services and securities lending solutions. Complementing each other, these services will provide a comprehensive suite of front-to-back office services.

The mandate demonstrates Citi’s commitment to securities and fund services and its continued success in partnerships with Chinese asset managers in Hong Kong. Citi offers these asset managers a market-first: a seamless, tailored solution that combines fund and custody services for funds.

In combination with its extensive local experience, Citi’s global reach was also a key factor in winning this business. Citi not only provides mainland fund managers with fund distribution opportunities in Hong Kong, but it also offers direct market access in the U.S. through the bank’s far reaching home-market network, providing Chinese funds with a key stepping stone as they expand internationally.

David Russell, Regional Head, Asia Pacific, Securities and Fund Services, Citi, said, "We are extremely pleased to have been awarded this mandate by Da Cheng International Asset Management. Citi is committed to the Chinese asset management sector and this mandate will allow us to showcase our focus, product capabilities, distribution network, and demonstrate our market leadership."

Doris Lian, Chief Executive Officer of Da Cheng International Asset Management, said, "Da Cheng is committed to our clients and giving them the right products both in this region and overseas. We need a strong partner to provide us with sophisticated and comprehensive fund services. Citi is a good choice for us, with their global network and local expertise, and we look forward to working with them further to develop our business."

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.

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About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.

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About Global Transaction Services
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2011, it held on average $365 billion in liability balances and $12.5 trillion in assets under custody.

Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With $12.5 trillion of assets under custody and the industry’s largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.