The scheme, which was announced on 2 December 2016, allows eligible Swiss and Hong Kong public funds to be distributed in each other’s market through a streamlined vetting process.
Harvest has become the first manager to qualify for the scheme, having been granted approval from the Swiss Financial Market Supervisory Authority.
As part of this mandate, BNP Paribas Securities Services will provide Harvest with foreign representative, paying agent and transfer agency services to help the asset manager distribute its Hong Kong-authorised funds in Switzerland. Harvest will benefit from BNP Paribas’ direct connectivity to local market utilities and from its extensive cross-border fund distribution experience.
Ashley Dale, Chief Business Development Officer and Chief Marketing Officer at Harvest Global Investments, said:
“We are delighted to be working with BNP Paribas Securities Services to offer European investors access to our China Equity and Asia Frontier funds via the Mutual Recognition of Funds scheme. We selected the team for its dual expertise in both Hong Kong and Europe and its in-depth knowledge of European investors.”
Philippe Benoît, Head of Asia Pacific at BNP Paribas Securities Services, said:
“As a global asset servicer, supporting our clients’ cross-border investments is key to our offering. We are excited to be partnering with Harvest, the first Chinese asset manager to qualify for the scheme, and help them distribute their funds in Switzerland and Europe.”
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About BNP Paribas Securities Services (www.securities.bnpparibas.com)
BNP Paribas Securities Services, a wholly owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider. Backed by the strength of the BNP Paribas Group, we provide multi-asset post-trade and asset servicing solutions for buy and sell-side market participants, corporates and issuers. With local expertise in 36 countries and a global reach covering 90+ markets, our network is one of the most extensive in the industry, enabling clients to maximise their investment opportunities worldwide.
About Harvest Global Investments (www.harvestglobal.com.hk)
Harvest Global Investments (Harvest) is investing in China as it grows into an innovation hub. Our investment team combines an international pedigree with nuanced local insights when looking for alpha opportunities. Our on-theground team understands how policy decisions impact local markets, the complexities of risk on-shore and off-shore and have their finger on the pulse of companies primed for quantum growth.
- Harvest Global Investments is the international arm of Harvest Fund Management Co and has offices in Hong Kong, London, and New York.
- Group AuM (as of 31 March 2017): USD 114.25bn
- 200+ investment managers