HFT Investment Management (HK) (HFT HK) has selected BNP Paribas Securities Services as custody services provider for its Renminbi Qualified Foreign Institutional Investor (RQFII) fund offerings.
According to BNP Paribas, the fund offerings will include China Money Market Fund under the RQFII scheme and China High Yield Bond Fund, combining bonds traded in the Hong Kong and mainland China markets.
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Under the deal, the bank will offer a full suite of services for the funds encompassing global custody, fund accounting, transfer agency and Hong Kong trustee services.
BNP Paribas said that HFT HK’s Money Market RQFII Fund will primarily invest in money market instruments issued in China enabling investors outside China to enjoy mainland Chinese yield levels for these products.
The China High Yield Bond fund will combine bonds traded in the Hong Kong and China markets and will be distributed to retail and institutional investors.
Jelle Vervoorn, CEO of HFT HK said: "With the support of BNP Paribas’ global reach and local servicing, we can focus on the key drivers of our business by building a solid track record in RQFII funds."
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