HSBC has been appointed by E Fund Management (Hong Kong) to provide servicing solutions for its existing Luxembourg UCITS.
The partnership expands HSBC’s servicing of E Fund’s current funds business outside of Asia as HSBC acts as the depositary, custodian, transfer agent, fund administrator and corporate secretary of its E Fund Greater China High Dividend Equity Fund.
E Fund believes the partnership with HSBC in Europe will set a solid foundation to support its UCITS expansion plan.
According to HSBC, Guangzhou-based E Fund has grown to become the largest integrated management corporation in China with total assets under management of about RMB 2.5 trillion ($385 billion) as of 30 June 2021, including E Fund Hong Kong and China subsidiaries.
Last month, AXA Investment Managers, the Paris-based international fund house, appointed HSBC as its UK provider of global custody and fund depository services.
