BNP Paribas Securities Services has been appointed by Nikko Asset Management as custodian and administrator for its first exchange-traded fund (ETF) domiciled in Hong Kong.
The mandate grows the existing partnership between Nikko AM and BNP Paribas, allowing the asset manager to operate a single model across all its funds.
BNPP SS has, the company says, drawn on its ETF expertise in other territories to support the fund.
The Nikko AM Global Internet ETF has been set up to offer investors in Hong Kong exposure to tech stocks, covering themes such as e-commerce, internet of things, social networking, cloud services and e-gaming.
Head of BNPP SS in Hong Kong, Julien Kasparian, said: “This is another milestone in the long-standing and valued partnership between Nikko Asset Management and BNP Paribas Securities Services in the region.”
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