China's National Social Security Fund (NSSF) said it has named Citigroup and Northern Trust as its custodian banks for overseas investment, Forbes reported. The NSSF secured approval in May to invest up to 44 billion yuan (5.5 billion US dollars), or 20 percent of its roughly 220 billion yuan (2.5 billion US dollars) under management, in global equities, including US and Hong Kong stocks, and fixed-income products, and can choose a different fund manager for each investment line, said Forbes. By the end of 2005, NSSF had total assets of 211.79 billion yuan (26.47 billion US dollars). Xiang Huaicheng, head of the NSSF, said earlier that the agency plans to invest up to 800 million US dollars overseas by the end of the year, mainly focusing on Hong Kong as well as US and European markets.