BNP Paribas Securities Services today announced that it has been selected to provide custody services to BEA Union Investment, the first fund manager to use Hong Kong's Open-ended Fund Company (OFC) regime for an actively managed retail fund.

BNP Paribas Securities Services will provide BEA Union Investment with a range of custody services including fiduciary duties, fund administration as well as transfer agency services.

Introduced by the Securities and Futures Commission in July 2018, the OFC regime enables Hong Kong-domiciled investment funds to be established in the form of a company, which offers investors more flexibility than unit trust structures.

Julien Kasparian, Head of Hong Kong at BNP Paribas Securities Services, said: "The introduction of this new regime enhances local market infrastructure, positioning Hong Kong as one of the preferred fund domiciles among all other internationally recognizable jurisdictions."

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BNP Paribas Securities Services today announced that it has been selected to provide custody services to BEA Union Investment, the first fund manager to use Hong Kong's Open-ended Fund Company (OFC) regime for an actively managed retail fund.

BNP Paribas Securities Services will provide BEA Union Investment with a range of custody services including fiduciary duties, fund administration as well as transfer agency services.

Introduced by the Securities and Futures Commission in July 2018, the OFC regime enables Hong Kong-domiciled investment funds to be established in the form of a company, which offers investors more flexibility than unit trust structures.

Julien Kasparian, Head of Hong Kong at BNP Paribas Securities Services, said: "The introduction of this new regime enhances local market infrastructure, positioning Hong Kong as one of the preferred fund domiciles among all other internationally recognizable jurisdictions."