Manulife TEDA Fund Management hired BNY Mellon as global custodian for a new fund, according to BNY Mellon spokeswoman Louisa Bartoszek.
The fund, Manulife TEDA New Economic Pattern Fund, is a qualified domestic institutional investor fund that allows Chinese investors to gain exposure to overseas markets.
Manulife TEDA is 51% owned by Northern International Trust & Investment, a part of Tianjin TEDA Investment Holding Co. and 49% owned by Manulife Financial.
In June, the joint venture received approval to manage up to $500 million in QDII funds from China's State Administration of Foreign Exchange, a government agency responsible for regulating the nation's foreign exchange market activities.
A call to Manulife was not returned by press time.