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HSBC Securities Services (HSS), part of HSBC’s Global Banking and Markets business, has been mandated as custodian and fund services provider by a Hong Kong based fund manager, Ping An of China Asset Management (Hong Kong) Co. Limited (“PAAMC HK”), for its first Reserved Alternative Investment Fund (RAIF) umbrella.
The Reserved Alternative Investment Fund (RAIF) vehicle combines the characteristics and structuring flexibilities of Luxembourg-regulated specialised investment funds (SIFs) and investment companies in risk capital (SICARs). However, RAIFs are not subject to local regulator (Commission de Surveillance du Secteur Financier, CSSF) approval before they are launched. This allows for a significantly shorter time-to-market for new fund launches...
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