Brown Brothers Harriman supports ICBC UBS Asset Management
11 December 2025 Hong Kong
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Brown Brothers Harriman (BBH) has been appointed as custodian and administrator for Industrial and Commercial Bank of China Union Bank of Switzerland Asset Management International’s (ICBCUBSI’s) new Hong Kong-listed ETF, in partnership with Krane Funds Advisors, BBH Trustee Services (Hong Kong) serves as trustee and registrar.
The ICBC UBS KraneShares KWEB, a US-listed China Securities Index (CSI) China Internet ETF, will offer listed and unlisted share classes to investors.
The fund will bring investors in Hong Kong access to the underlying strategy behind KWEB.
Chris Pigott, head of Hong Kong ETF servicing BBH, comments: “ICBCUBSI and KraneShares’ entrance to the Hong Kong ETF market is well-timed as there has been an increased demand for tech-themed ETFs from Hong Kong investors.
“Assets of tech-themed ETFs listed on Stock Exchange of Hong Kong Limited have grown 102 per cent year on year and added over HK$29 billion of net new flows into those products through the first nine months of 2025.
“In our 2025 ETF investor survey, 97 per cent of ETF investors in Hong Kong planned to increase their ETF allocations this year, showcasing the increasing demand for ETFs and thematic strategies, such as this offering.”
Dylan Zhang, head of ETFs at ICBCUBSI, remarks: “With our first ETF launch in Hong Kong we wanted to partner with a proven global ETF service provider who knows the Hong Kong ETF market, that is why we chose BBH.
“BBH’s innovative ETF technology platform and their comprehensive service offering were important aspects when we selected our service provider for this fund.”
The ICBC UBS KraneShares KWEB, a US-listed China Securities Index (CSI) China Internet ETF, will offer listed and unlisted share classes to investors.
The fund will bring investors in Hong Kong access to the underlying strategy behind KWEB.
Chris Pigott, head of Hong Kong ETF servicing BBH, comments: “ICBCUBSI and KraneShares’ entrance to the Hong Kong ETF market is well-timed as there has been an increased demand for tech-themed ETFs from Hong Kong investors.
“Assets of tech-themed ETFs listed on Stock Exchange of Hong Kong Limited have grown 102 per cent year on year and added over HK$29 billion of net new flows into those products through the first nine months of 2025.
“In our 2025 ETF investor survey, 97 per cent of ETF investors in Hong Kong planned to increase their ETF allocations this year, showcasing the increasing demand for ETFs and thematic strategies, such as this offering.”
Dylan Zhang, head of ETFs at ICBCUBSI, remarks: “With our first ETF launch in Hong Kong we wanted to partner with a proven global ETF service provider who knows the Hong Kong ETF market, that is why we chose BBH.
“BBH’s innovative ETF technology platform and their comprehensive service offering were important aspects when we selected our service provider for this fund.”
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