Malaysia's largest independent asset manager, Hwang Investment Management, has selected BNP Paribas Securities Services to provide custody to four Ucits funds.
The funds centre on the manager’s flagship Asian Series portfolio, which is expected to launch in January 2014.
Mostapha Tahiri, head of BNP Paribas Securities Services in Singapore, says around 24% of Ucits funds are distributed outside Europe, mainly in Asia.
The brief also covers fund administration and transfer agency.
BNP Paribas has around $8 trillion (€5.9 trillion) in assets under custody.
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