HSBC to service Singapore’s first VCC ETF

SingaporeThe first exchange-traded fund (ETF) to be authorised in Singapore under the new variable capital company (VCC) structure has appointed HSBC as its custodian and fund administrator. The ICBC CSOP FTSE Chinese Government Bond Index ETF, promoted by CSOP Investments, was launched on September 21 after receiving approval from the Monetary Authority of Singapore (MAS). In addition to being the first ETF issued as a VCC, CSOP Investments is the first Chinese offshore asset manager to issue an ETF in Singapore. The new corporate structure was launched in January by the MAS in order to make it easier for international asset managers to redomicile their funds in Singapore. “New fund structures like VCC now available in Asia Pacific are putting the spotlight on the region as a viable international investment hub,” said Gavin Powell, head of global markets at HSBC. “This [partnership] strengthens our commitment to the development of the region’s fund management industry.” © 2020 funds global asia

Executive Interviews

Executive interview: Nicolas Moreau’s orderly transition

Jul 12, 2021

Nicolas Moreau, CEO of HSBC Asset Management, is moving to Asia as the firm looks to connect more directly with the region’s growth story. ESG is also a key focus – including the ‘just’ carbon...

Executive interview: The man who made Aberdeen

Mar 04, 2021

Martin Gilbert reflects on nearly four decades as Aberdeen CEO, including what he brought to the company, his regrets at not entering into private markets earlier, and passing like ships in the...


Roundtable: How well geared are Japanese assets for a new world?

Jul 12, 2021

As we prepare to emerge from Covid, experts look at overcoming demographic issues through a combination of good tech and corporate governance, improving productivity and meeting an ambitious government carbon emissions reduction target. Chaired by Romil Patel.

Hong Kong roundtable: Increasing China’s prominence as an asset class

Mar 04, 2021

Our line-up of experts in Hong Kong considers the importance of fixed income ETFs, sustainability and the prospects of increasing China in the indices. Chaired by Romil Patel.