HSBC Securities Services (HSS), part of HSBC’s Global Banking and Markets business, has been mandated as custodian and fund services provider by the Chinese and Asian markets specialist asset manager, Harvest Global Investments UK Limited (‘Harvest’), for its first Ucits funds umbrella. The fund will target both institutional and retail investors in Europe. The first sub-fund, Harvest China Evolution Equity Fund, may have exposure (whether direct or indirect) to China A-Shares and/or China B-Shares. Harvest will make use of different China-access channels including the Stock Connect and via their RQFII Licence to trade China A-Shares. The fund is amongst the first to be approved by the local regulator, the Commission de Surveillance du Secteur Financier (‘CSSF’), to start investing through the new Shenzhen-Hong Kong Stock Connect programme.

The partnership with Harvest now spans two continents in Asia and Europe as HSBC is already Trustee, Global Custodian, Fund Administration and RQFII custodian to Harvest’s funds in Hong Kong.

Carol Hughes, head of Client Services, Securities Services, HSBC in Luxembourg, commented: “Our heritage, footprint and expertise in both Asia and in Europe means that we are well-positioned to help clients with cross-border expansion and distribution across continents. We are delighted to be working with Harvest as they expand beyond Asia into Europe. We are also very pleased to support the fund in accessing the newly-opened Shenzhen-Hong Kong stock connect platform.”

Commenting on the announcement, Florence Lee, head of China Sales and Business Development, EMEA – Securities Services at HSBC, added: “The Stock Connect program provides a more straight forward and easier set-up for international investors to access the China-A shares market. With our expertise in the China market, HSBC is delighted to support Harvest Global Investments using both Stock Connect & RQFII in their new Luxembourg platform.”

Peter Lindqvist, CEO at Harvest Global Investments UK, said: “Harvest’s Luxembourg Sicav platform will provide European investors with direct access to the benefits Harvest’s local knowledge and international pedigree provide. Our on-the-ground team understands how policy decisions impact local markets, the complexities of risk, and they have their finger on the pulse of companies primed for quantum growth.”