HSBC has been appointed as trustee, global custodian, fund administrator, swap counterparty and cross border equity execution for the Premia China STAR50 ETF on the Hong Kong Stock Exchange.
With an initial launch size of RMB 204 million ($31 million), Premia China STAR50 ETF is one of the largest funds tracking the biggest and most liquid stocks traded on the Science and Technology Innovation Board of the Shanghai Stock Exchange, also known as the STAR Market.
The appointment extends HSBC’s run of sweeping ETF mandates in the Asia Pacific region. Some of the more recent agreements include supporting Daiwa Asset Management’s first ETF under China-Japan Connect scheme, the first Hong Kong-Mainland China ETF cross listing and the first ETF listed under Singapore’s new Variable Capital Company (VCC) investment fund structure.
HSBC has already supported Premia Partners with the launch of its Premia China Treasury & Policy Bond Long Duration ETF and Premia China USD Property Bond ETF.
“HSBC has been our important partner since inception of Premia. Managing ETFs is like conducting an orchestra that you need every element to be meticulous, and we are very fortunate to find such great rapport across the HSBC teams that are not only very professional practitioners, but also share our vision and passion for bringing innovative, institutional grade ETFs to Asia better, faster,” said Rebecca Chua, managing partner of Premia Partners.