HSBC’s securities services has been appointed as custodian and fund services provider by investment management firm Equitile as the partnership aims to launch an Authorised Contractual Scheme (ACS).
The prospective ACS, which will be the first of its kind, is a UK-based tax transparency master fund introduced by the UK Treasury to help the UK compete as a fund domicile.
HSBC has previous experience in this sector, having already introduced a fully automatic approach for ACS structures and currently administering $24 billion in ACS structures.
Under the new agreement Equitile will be able to increase the efficiency of its investment structure for clients.
Andrew McNally, Equitile CEO said “As a start-up asset manager, we chose to establish an ACS due to the benefits this will deliver to our investors by giving them a more efficient vehicle.”
“It was therefore important for us to work with a partner with a proven track record of successfully bringing to market ACS fund structures, which was why we selected HSBC.”
Equitile join forces with HSBC securities service
HSBC’s securities services has been appointed as custodian and fund services provider by investment management firm Equitile as the partnership aims to launch an Authorised Contractual Scheme (ACS).