HSBC Securities Services has been appointed the custodian and fund administrator for Pacific Hawk Global OFC, the first open-ended fund company launched in Hong Kong. The assets of OFCs must be segregated from those of the investment manager and entrusted to a separate, independent custodian for safekeeping. An OFC must appoint a custodian which meets…
Category: Mandates
SGSS to service Italian healthcare fund for Primonial
Société Générale Securities Services in Italy has been mandated by Primonial Luxembourg Real Estate to provide depositary and fund administration services for its Primonial Italian Healthcare Fund. Primonial is an independent asset manager based in France.
SGSS to service Alpha Real Capital’s UK PAIF
Société Générale Securities Services has been appointed by UK-based Alpha Real Capital LLP to provide custody and depositary services. SGSS is providing custody and depositary services to Alpha Real Capital’s new UK property authorised investment fund (PAIF).
Daiwa AM hires Lemanik as ManCo for Lux UCITS funds
Lemanik Asset Management, a third-party management company, has been appointed by Daiwa Asset Management to provide ManCo services for a newly launched range of Luxembourg UCITS funds. RBC was recently appointed as custodian and administrator for the funds.
U.S. Bank appoints HSBC for Saudi sub-custody
U.S. Bank now offers investors access to the Saudi Arabia market. HSBC Saudi Arabia will act as sub-custodian and Saudi Arabia British Bank as cash correspondent bank. HSBC and SABB will provide U.S. Bank with local custody and cash clearing services for investment services clients investing in Saudi Arabia through the qualified foreign investor (QFI)…
BNP Paribas to service Nikko Asset Management’s first passive ETF
BNP Paribas Securities Services has been appointed as custodian and administrator for Nikko Asset Management’s first passive ETF, domiciled in Hong Kong. As part of the mandate, BNP Paribas will provide middle office, custody services, trustee, transfer agent and fund administration. This expands an existing relationship between Nikko Asset Management and BNP Paribas.
Petroleum Development Oman hires State Street
State Street has been appointed by the Omani Staff Pension Fund for Petroleum Development Oman to provide custody and investment servicing solutions for >USD2.3bn AuM. PDO has been a client of State Street Global Advisors for several years, and this mandate represents a new collaboration for one of Oman’s largest private sector employers with State…
Paloma Partners hires SS&C GlobeOp for fund services
Paloma Partners, a U.S.-based hedge fund manager, has appointed SS&C GlobeOp for fund accounting, administration and regulatory services, using SS&C Geneva as the general ledger accounting platform. Paloma manages approximately USD4.8bn.
Apex wins RE admin mandate for Assembly in Australia
Apex has been appointed by Assembly Funds Management and AMAL Trustees to provide fund administration services for the Australian Diversified Property Fund 1. The fund was launched with an initial AUD150m (USD100m). Assembly will pursue real estate investment opportunities across Australia and New Zealand, targeting a range of property assets including office, logistics, residential and…
RBC to service Daiwa AM’s first Lux UCITS fund
RBC Investor & Treasury Services has supported the launch of the first Luxembourg UCITS fund for Daiwa Asset Management, the second largest asset management company in Japan. RBC will provide custody, fund accounting, transfer agency and depositary services.