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BNP Paribas wins Asia custody mandate
28 February 2014
Contract covers HFT Investment Management’s recent RQFIII offerings
BNP Paribas Securities Services has won a custody mandate from
HFT Investment Management.
The custodian now provides services for the firm’s
recent Renminbi (RMB) Qualified Foreign Institutional Investor
(RQFII) fund offerings.
The funds include the China Money Market Fund under the RQFII
scheme and the first ever truly diversified China High Yield
Bond Fund, combining bonds traded in the Hong Kong and mainland
BNP Paribas also provides the funds with fund accounting,
transfer agency and Hong Kong trustee services.
Jelle Vervoorn, CEO of HFT HK said, "These funds are key
milestones in our strategy to rapidly build a full RMB product
range across asset classes that caters to the requirements of
"Our group ambition is to pursue an aggressive growth strategy
by tapping international investors to drive the demand for our
fund business. With the support of BNP
Paribas’ global reach and local servicing, we can
focus on the key drivers of our business by building a solid
track record in RQFII funds."
The custodian set up its Hong Kong trustee service in 2012 to
meet growing demand.