HSBC Securities Services has been appointed the custodian and fund administrator for Pacific Hawk Global OFC, the first open-ended fund company launched in Hong Kong. The assets of OFCs must be segregated from those of the investment manager and entrusted to a separate, independent custodian for safekeeping. An OFC must appoint a custodian which meets the same eligibility requirements applicable to SFC-authorised funds under Hong Kong’s Unit Trust Code.
