HSBC introduces fund administration services in Thailand
16 March 2021 Thailand
Image: Sergii Figurnyi/adobe.stock.com
HSBC Securities Services has launched fund administration services in Thailand for its asset owners and managers clients.
The new service enables asset owners and managers to focus on their core offering and outsource their back-office operations to HSBC.
HSBC says the move is in line with the change in the landscape in the securities services industry in Thailand where the Securities Exchange and Commission relaxed the outsourcing rules to boost the efficiency of local fund managers’ operations.
Under this model, the client will be using HSBC’s fund administration services in addition to custody and fund supervisory services offered currently.
The service will be offered through the fund administration platform, Multifonds, HSBC’s strategic platform in Asia.
HSBC explains that this will enable clients to experience “future-proof solutions, consolidated views and standardised solutions” across multiple markets while addressing local market specifics.
Utumporn Viranuvatti, head of securities services at HSBC, Thailand, comments: “Our clients have expressed a keen desire to improve efficiency and reduce cost, reduce operational risk, adapt to their investors’ needs and manage regulatory changes effectively.”
“We are supporting our clients by offering a high degree of straight-through processing with end-to-end solutions that complement their core activities. This will allow our clients to focus on their key competencies and expand their product offerings,” adds Viranuvatti.
The new service enables asset owners and managers to focus on their core offering and outsource their back-office operations to HSBC.
HSBC says the move is in line with the change in the landscape in the securities services industry in Thailand where the Securities Exchange and Commission relaxed the outsourcing rules to boost the efficiency of local fund managers’ operations.
Under this model, the client will be using HSBC’s fund administration services in addition to custody and fund supervisory services offered currently.
The service will be offered through the fund administration platform, Multifonds, HSBC’s strategic platform in Asia.
HSBC explains that this will enable clients to experience “future-proof solutions, consolidated views and standardised solutions” across multiple markets while addressing local market specifics.
Utumporn Viranuvatti, head of securities services at HSBC, Thailand, comments: “Our clients have expressed a keen desire to improve efficiency and reduce cost, reduce operational risk, adapt to their investors’ needs and manage regulatory changes effectively.”
“We are supporting our clients by offering a high degree of straight-through processing with end-to-end solutions that complement their core activities. This will allow our clients to focus on their key competencies and expand their product offerings,” adds Viranuvatti.
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