BNP Paribas appointed for first access to Swiss-HK fund connection

Deal will enable China-focused fund manager to access HK-Swiss scheme.
By Jonathan Watkins

BNP Paribas Securities Services has been appointed by Harvest Global Investments to provide access to the Mutual Recognition of Funds scheme between Hong Kong and Switzerland.

The fund manager which primarily invests in China, has become the first to qualify for the scheme, having been granted approval from the Swiss Financial Market Supervisory Authority.

Announced on 2 December 2016, the programme allows eligible Swiss and Hong Kong public funds to be distributed in each other’s market through a streamlined vetting process.

As part of the mandate, BNP Paribas Securities Services will provide Harvest with services including foreign representative, paying agent and transfer agency to help the asset manager distribute its Hong Kong-authorised funds in Switzerland.

“We selected the team for its dual expertise in both Hong Kong and Europe and its in-depth knowledge of European investors,” said Ashley Dale, chief business development officer and chief marketing officer at Harvest Global Investments.