Irish Stock Connect custody win for HSBC 06 August 2015Dublin Reporter: Stephanie Palmer
Image: Shutterstock
HSBC has been appointed custodian for an Irish UCITS fund that has been approved to invest in China A-Shares through the Shanghai-Hong Kong Stock Connect programme.
The Arisaig Global Emerging Markets Consumer UCITS fund has been approved by the Central Bank of Ireland to invest through the programme, and chose HSBC Institutional Trust Services as custodian.
The fund is a sub-fund of Arisaig funds, and the investment manager is Singapore-based Arisaig Partners.
HSBC has been working with the Central Bank of Ireland to establish authorisation of the stock connect programme for its UCITS clients. The programme allows mutual market access between China and Hong Kong.
Ciara Houlihan, managing director of HSBC Institutional Trust Services in Ireland, said: "We understand that this is the first Irish UCITS fund to be authorised to invest via Stock Connect. HSBC has a long tradition of engagement and connectivity in Asian markets and is exceptionally well placed to enable Irish regulated funds to access this programme."
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 