PAAMC mandates HSBC in Lux to service first UCITS umbrella fund

HSBC Luxembourg has been appointed by Ping An of China Asset Management (Hong Kong) Co., Ltd. to act as central administrator, depositary/trustee, transfer agent and custodian for its first UCITS umbrella fund, comprised initially of four sub-funds. In 2018 HSBC was appointed to service PAAMC’s first reserved alternative investment fund (RAIF) umbrella. The partnership with PAAMC HK spans Asia and Europe, with HSBC also providing trustee, fund administration and custodian services to PAAMC HK’s funds in Hong Kong.