HSBC Securities Services (HSS) has won additional mandates from Southeast Asia asset manager Lion Global Investors (LGI). The additional mandates take the number of LGI funds served by HSBC to 41 and reflects the 15 year partnership between LGI and HSS.
HSS has been appointed as trustee, accounting and valuation agent, registrar and custodian for two LGI funds, in addition to being awarded the trustee mandate for a third fund, for which HSS already provides administration and custody services.
James Tan, chief operating officer, LGI, said: We have worked with HSS in Singapore over a number of years and we are pleased to extend the relationship with HSBC as our key service provider. Being able to work with one company for all our securities services also helps our efficiencies as an asset manager by allowing us to focus on our core capabilities.
Tony Lewis, head of HSS Singapore, said: The partnership we enjoy with Lion Global Investors is a broader reflection of the sustained commitment we have made to the fund management sector in Singapore, and has been one of the key reasons why we maintain our market leading position here.
LGI also recently mandated BNP Paribas Securities Services to launch new UCITs-structured funds to support the asset managers global fund distribution strategy. BNP Paribas will provide global custody, fund accounting, depositary bank and transfer agency services to LGIs UCITS funds on its single, global platform, with a client service window based in the Asia region.
Singapore-based LGI had S$28.7bn in AUM at June 30 2011.
(JDC)