Citi supports Fullgoal’s first Hong Kong-listed ETF

Citi Investor Services has been appointed as trustee, custodian and exchange-traded fund (ETF) administrator for Fullgoal Asset Management (HK) Limited’s first Hong Kong-domiciled ETF.

The Fullgoal Hang Seng HK high dividend ETF was listed today on the Hong Kong Stock Exchange, marking Fullgoal’s entry into the Hong Kong ETF market and underscoring Citi’s strong ETF servicing capabilities.

David Brown, head of investor services client for Japan, Asia North and Australia, said, “Fullgoal’s decision to partner with Citi for its first Hong Kong-listed ETF reflects their trust in Citi’s ETF platform and our continued investment in this business. Hong Kong’s ETF market is growing quickly, and we are focused on helping asset managers like Fullgoal launch, scale and operate efficiently as they capitalise on industry opportunities.”

Hong Kong’s ETF market continues to gain momentum, driven by strong investor demand from both Hong Kong and mainland China through the ETF Connect programme. In 2025, Southbound and Northbound ETF average daily turnover reached HKD 3.9 billion ($497.5 million) and RMB 3.4 billion ($491.9 million) respectively, up 61.7% and 72.1% year-on-year. Citi supports this growth by facilitating ETF Connect flows and moving capital efficiently between China and international markets through its global network.

“Today’s ETF listing marks Fullgoal’s first step into Hong Kong’s ETF market and an important expansion of our product offering,” said Li Xiaowei, deputy general manager and chief investment officer of Fullgoal. “We selected Citi as our partner for this milestone because of their end-to-end ETF services across primary dealing, market making, trustee, custodian and ETF administration which will be instrumental in ensuring the smooth and efficient operation of this new offering.”

Citi has a long track record of delivering ETF services globally, supported by deep market expertise, proprietary platforms and scalable technology, and its extensive network. With approximately $31 trillion in assets under custody and administration and a proprietary network spanning more than 60 markets, Citi Investor Services provides local market expertise, post-trade technology and an integrated custody, fund services and securities finance offering to serve clients’ needs.

Fullgoal Asset Management (HK) Limited is the Hong Kong unit of Shanghai-headquartered Fullgoal Fund Management. The group, including its units, manages over $286 billion in assets under management (AUM) and is ranked a No.4 fund manager in China by AUM in public mutual funds (excluding Money Market Funds).

Re-disseminated by Wealth and Society