A Chinese fund manager has appointed HSBC Luxembourg as custodian to its first Ucits fund.
Ping An of China Asset Management (Hong Kong) Co. has appointed HSBC’s securities services to act as administrator, depositary, transfer agent and custodian for the Ucits umbrella fund.
The underlying funds include Chinese A-Shares and the China green bonds.
Investors can access China’s equity and fixed income markets via Ping An’s offshore investment platform.
Sebastien Danloy, global head of asset owners and managers at HBSC securities services, said “more and more” Chinese asset managers were requesting to set up European funds for distribution in Europe and across Asia since China’s GDP recovered in the second quarter. He said HSBC was supporting them.
The four sub-funds of Ping An’s Hong Kong business being domiciled in Luxembourg are: China A-Shares AI Multi-Factor Fund; China Green Bond Fund; China High Yield Private Strategy Bond Fund; Emerging Market Income Fund.
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