HSBC wins New Capital UCITS mandate

HSBC Securities Services in Ireland has been named as administrator to New Capital UCITS Fund Plc, the funds arm of EFG Asset Management (EFGAM). The appointment covers approximately US$2 billion of assets, andextends an existing strategic relationship,which has grown over a number of years, the bank says. Lisa Martensson, head of client management in Ireland, described EFGAM as an important HSBC client and the opportunity as ‘very exciting’.

EFGAM is an international provider of actively managed investment products and services to financial intermediaries and institutional investors around the world. With a full range of investment offerings, including traditional equity and fixed income portfolios, multi-asset and alternatives strategies, and its proprietary New Capital fund range, it manages over USD $12 billion on behalf of clients.