WF Asia Fund Ld IRSH Appointment of Additional Custodian

  WF Asia Fund Ld (IRSH) - Appointment of Additional Custodian

RNS Number : 5713G
WF Asia Fund Ltd
29 June 2012
 

COMPANY ANNOUNCEMENT

 

Immediate Release                             29 June 2012

 

WF Asia Fund Limited (the "Fund")

                                       

Re: Appointment of additional custodian

   

The Directors wish to announce the appointment of The Bank of New York  Mellon 
("BNY Mellon") to act  as an additional  custodian to the  Fund pursuant to  a 
custody agreement (the "Custody  Agreement") dated 29  June 2012, between  the 
Fund and BNY Mellon. BNY Mellon is responsible for the safekeeping and custody
of securities deposited with it  by the Fund. Under  the terms of the  Custody 
Agreement, the services provided may include settlement of trades, the opening
and maintenance of  one or more  cash accounts and  securities accounts,  safe 
custody of assets, income collection, corporate action and voting  processing, 
tax  reclaims,  foreign  exchange  services,  provision  of  certain   pricing 
information and standard custody and electronic reporting.

BNY Mellon is a global financial  services company focused on helping  clients 
manage and  service their  financial  assets, operating  in 36  countries  and 
serving more than 100 markets. BNY  Mellon has $25.8 trillion in assets  under 
custody and administration.  BNY Mellon is the corporate brand of The Bank  of 
New York Mellon Corporation.  

The terms of the agreement allow either party to terminate the agreement on at
least 90 days' notice.The Fund shall indemnify and hold harmless the Custodian
from and against all  losses, including but not  limited to penalties,  taxes, 
judgments and awards, legal fees  (reasonably incurred) and expenses in  third 
party suits  and in  a successful  defense  of claims  asserted by  the  Fund, 
relating to or arising out of  the performance of the Custodian's  obligations 
under the  agreement, except  to  the extent  resulting from  the  Custodian's 
negligence, wilful misconduct or fraud.

The Fund will pay  the Custodian a  custody fee which will  remain at no  less 
than USD $24,000 per annum.

The Investment Manager will, in  its sole discretion, allocate assets  between 
the custodians according to prevailing trading and economic conditions.

 

Enquires to:    

                                               

Maples and Calder Larry Morrissey

                  +353 1 619 2057

 

 

 

 

 

 This announcement has been issued through the Companies Announcement Service
                                      of

                          the Irish Stock Exchange.

                                       

 

                     This information is provided by RNS
           The company news service from the London Stock Exchange
 
END
 
 
ISEFLMFTMBBTBRT -0- Jun/29/2012 16:17 GMT