UCITS administration mandate for HSBC 21 March 2016London Reporter: Stephanie Palmer
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HSBC Securities Services has been appointed as administrator to New Capital UCITS Fund, the funds arm of EFG Asset Management.
EFG Asset Management provides actively managed investment solutions to institutional investors and intermediaries around the world.
HSBC in Ireland will provide administrative services for about $2 billion of assets in the UCITS fund, a move that builds on the existing strategic relationship between HSBC Securities Services and EFG.
Lisa Martensson, head of client management at HSBC Securities Services in Ireland, commented: "We are delighted to increase our offering to EFG Asset Management and further strengthen our global relationship. EFG Asset Management is an important HSBC client, which makes this a very exciting opportunity."
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