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HSBC Securities Services (HSS) in Luxembourg, part of HSBC’s Global Banking and Markets business, has been mandated as depositary and administrator for New Capital Fund Lux, a UCITS funds umbrella with USD 1.3 bn assets under management and 20 sub funds managed by EFG Asset Management (EFGAM). EFGAM already has a strong existing relationship with HSS in Ireland, which has recently expanded to HSS in Luxembourg, through the migration of their Luxembourg SICAV.
Carol Hughes, Head of Client Management, Securities Services, HSBC in Luxembourg, commented: “We are extremely delighted to have this opportunity to build on the existing relationship in HSS and expand our partnership with EFG Asset Management.”
Commenting on the migration, Claudio Camplani,...
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