Sweden’s Lynx awards HSBC Ireland with onshore fund admin

Global handshakeLynx Asset Management, a Swedish asset management firm, has awarded a $1 billion (€888.5 million) fund administration mandate to HSBC Securities Services (HSBC SS) for two onshore funds. HSBC SS in Ireland, part of HSBC Group, will provide administration and global transfer agency services to two Lynx funds that are domiciled in Sweden. The custody bank and asset servicer has a client relationship with Lynx going back to 2004, but the mandate marks the first time that HSBC SS will service Swedish onshore funds. Lynx, founded in 1999, is a ‘commodity trading adviser’ with approximately $6 billion in assets under management. It is part of the Brummer group. Tony McDonnell, head of HSBC SS in Ireland, says: “As well as being a reflection on our excellent relationship with Lynx to date, this is a strategically important win for our Irish business and expands our product coverage.” HSBC SS in Ireland services about $148 billion in assets across 60 clients from its offices in Dublin. ©2015 funds europe

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