Northern Trust is expanding its fund administration and custody capabilities to support locally domiciled Hong Kong funds, including exchange-traded funds, as well as other regional investment funds.
For the newly launched service, Northern Trust will provide global sub-custody and fund administration services, including fund accounting and shareholder services, to asset managers looking to broaden their product and distribution base in the Asian region.
“We recognize the significant demand from investors, asset managers and regulators for local products in the Hong Kong and greater China markets,” said Camie West, head of Global Fund Services in Asia for Northern Trust. “This service offering provides our asset manager clients with improved access to these markets through locally domiciled vehicles, coupled with Northern Trust’s fund administration expertise and proven global infrastructure.”
The Hong Kong funds will complement the global array of fund structures supported by Northern Trust, including UCITS funds in Europe and mutual funds and collective investment trusts in the United States. For ETFs, Northern Trust brings will use its service infrastructure that exists in Europe for new fund structures in the Asian region.