Japan’s Nikko Asset Management has awarded a custody mandate for a Hong Kong-domiciled internet exchange-traded fund (ETF) to BNP Paribas Securities Services (BNPP SS).
BNPP SS will provide middle office, custody services, trustee, transfer agent and fund administration to Nikko AM’s Global Internet ETF, which is designed to offer Hong Kong investors exposure to technology stocks.
The latest agreement extends an ongoing relationship between the two firms and enables Nikko AM to operate a single model across its full range of funds.
Eleanor Seet, head of Asia ex-Japan at Nikko Asset Management, said: “This is Nikko AM’s first ETF offering in Hong Kong and we are pleased to be providing investors with easy and low-cost access to the world’s leading internet companies, across trending themes such as e-commerce, internet of things, social networking, cloud services and e-gaming.”
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