HSBC appointed as trustee for BlackRock ETF
HSBC has been appointed as trustee for BlackRock’s iShares MSCI Emerging Markets ETF (HK), the first master-feeder exchange-traded fund (ETF) domiciled in Hong Kong.
BlackRock launched its new feeder ETF after listing in the Hong Kong Exchange, following the Securities and Futures Commission’s (SFC) decision to relax rules for the master-feeder regime in the domicile last December.
This alteration of the rules allowed feeder structures to invest in overseas master ETFs, without the master ETF required to complete the SFC authorisation process.
The fund from BlackRock is also the first of its kind in Hong Kong to track the MSCI Emerging Market Index.
