HSBC Luxembourg has been appointed as custodian, central administrator, depositary (trustee) and transfer agent for the first UCITS umbrella fund of Ping An of China Asset Management (Hong Kong).
The Luxembourg-domiciled UCITS fund comprises the four sub-funds including China A-Shares AI Multi-Factor Fund, China Green Bond Fund, China High Yield Private Strategy Bond Fund, and Emerging Market Income Fund.
Sebastien Danloy, global head of asset owners and managers, securities services, HBSC, said: “We’re delighted to be partnering with Ping An as they expand their European offering to include investment opportunities under the UCITS regulatory framework. It provides a means for European and global investors to access China’s equity and fixed income markets via Ping An of China Asset Management Hong Kong’s offshore investment platform.”
Danloy added: “China’s GDP significantly recovered in the second quarter and we continue to see global investors seeking Chinese assets for both yield and diversification of their portfolios. As a result, we are successfully supporting more and more new Chinese asset managers requesting to set up European funds for distribution in Europe and across Asia.”
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