Harvest extends China relationship with HSBC for Luxembourg fund

HSBC_towerHarvest Global Investments UK has appointed HSBC Securities Services (HSBC SS) as custodian and fund services provider for its first Ucits fund umbrella announced last week.

The appointment is an extension of HSBC’s work for Harvest because the asset servicing firm already provides services to Harvest funds in Hong Kong, including fund administration and custody for ‘RQFI’ assets.

The first sub-fund of the Luxembourg-domiciled Ucits range, Harvest China Evolution Equity Fund, can invest in China A-Shares and China B-Shares and will use different access routes, such as Stock Connect and via the RQFII programme.

Florence Lee, head of China sales and business development in Europe, Middle East and Africa at HSBC SS, said: “The Stock Connect programme provides a more straight forward and easier set-up for international investors to access the China-A shares market.”

Harvest Global Investment UK, whose CEO is Peter Lindqvist, is a wholly owned part of China's Harvest Fund Management which is majority owned by Chinese holders. The firm set up an office in London in March 2015.

Lindqvist hopes to attract European retail and institutional investors with Harvest’s local knowledge and an on-the-ground team that “understands how policy decisions impact local markets, the complexities of risk, and they have their finger on the pulse of companies primed for quantum growth”.

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