HSBC Securities Services has been appointed as fund administrator and global transfer agent by RWC Partners for its five new alternative funds.
The funds, managed by RWC’s Emerging and Frontier Markets Equity Team, are expected to attract $1.3 billion in assets under management during launch. The new funds will be serviced by HSBC Securities Services Ireland.
RWC, a London-based asset manager, has been a client of HSBC since 2002 and manages $11 billion in assets.
“As well as being a reflection on our excellent relationship with RWC to date, this is also a strategically important win for our Irish business. Emphasising our global reach, the relationship will be with RWC’s new US office and focusing on a pan-Asian investment strategy,” says Tony McDonnell, head of HSBC Securities Services in Ireland.
“When we seized the opportunity to bring onboard an already well-established Emerging and Frontier Markets Equity Team to manage this portfolio, we knew that we needed a provider we could rely on. HSBC worked with us to ensure the success of a number of fund launches in quick succession and we are grateful for the team’s experience and ongoing support,” adds Paul Larche, COO, RWC.