The custodian will also provide depositary, clearing and foreign exchange solutions for Pacific Asset Management's UCITS funds.
SGSS will become Fineco’s transfer agent and fund administrator in Italy and Luxembourg for its UCITS funds.
Northern Trust will act as the sole broker for AD Global Investors, assisting with its fixed income execution as well as providing custody, fund admin and FX services.
The MoU is the latest agreement for the Hong Kong market as it looks to become a leading cross-border fund hub for international investors.
UCITS assets under management are set to grow substantially over the next 30 years, though potential constraints on delegation arrangements are a concern.
Citi report highlights UCITS delegation rules as key issue for asset managers.
Setting up OFCs is said to save time and cost for managers establishing funds at other domiciles and distributing funds in Hong Kong.
The watchdog has called upon UK and German regulators to revise national exemptions on collateral requirements within the UCITS framework.
Regulators are hoping to harmonise the safekeeping requirements for UCITS and AIFMD funds, however this could mean stricter record-keeping requirements.