Nikko Asset Management has selected BNP Paribas Securities Services as custodian and administrator for its first passive exchange-traded fund (ETF), domiciled in Hong Kong.
BNP Paribas will provide middle-office, custody services, trustee, transfer agent and fund administration to support Nikko Asset Management to issue the Nikko AM Global Internet ETF.
The Global Internet ETF offers local investors in Hong Kong exposure to technology stocks.
The mandate expands the current partnership between Nikko Asset Management and BNP Paribas.
Eleanor Seet, head of Asia ex-Japan at Nikko Asset Management, said: “We welcome the continued support from BNP Paribas for our growth plans across the Asia ex-Japan region.”
She added: “This is Nikko AM’s first ETF offering in Hong Kong, and we are pleased to be providing investors with easy and low-cost access to the world’s leading internet companies, across trending themes such as e-commerce, internet of things, social networking, cloud services and e-gaming.”
Julien Kasparian, head of BNP Paribas Securities Services Hong Kong, commented: “We are pleased to support Nikko Asset Management in launching its first passively-managed ETF in Hong Kong. ETFs are changing the way investors manage their portfolios and BNP Paribas is helping asset managers to expand their product ranges.”
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