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Brown Brothers Harriman supports launch of Daiwa SB Investments’ first Hong Kong Domiciled Fund


Brown Brothers Harriman & Co (BBH) has been appointed as custody and fund administration services provider for Daiwa SB Investments’ (DSBI’s) first Hong Kong-domiciled fund, the Japan High Dividend Stocks Fund, for which Brown Brothers Harriman Trustee Services (Hong Kong) Limited serves as trustee.

The Japan High Dividend Stocks Fund, which launched in October 2017, is the first Hong Kong-domiciled product investing in the Japanese stock market and managed by a Japanese fund house.  
Jay Okada, Managing Director of DSBI (HK): “This is our first SFC-authorised fund and entrée into the competitive retail market in Hong Kong. We needed to appoint a reliable partner who possesses good local knowledge and expertise, and understands DSBI very well. It was natural to extend our longstanding relationship with BBH to launch this new strategy, leveraging the firm’s decades of experience in providing cross-border services to meet the high standard required by prominent Japanese asset managers.”
“The entry of a leading Japanese asset manager into the Hong Kong fund space affirms Hong Kong’s draw as a fund domicile and supports the growth potential of the Mutual Recognition of Funds (MRF) channel,” says Scott McLaren, Head of the BBH Hong Kong Office. “Hong Kong is rapidly transforming into an important cross-border fund management centre and attracting other leading asset managers from around the world.”
The number of authorised Hong Kong-domiciled funds has grown 145 per cent over the past five years and the net asset value of Hong Kong-domiciled unit trusts has expanded to USD151 billion. The rise of Hong Kong as a regional asset management hub has been driven by the diversity of cross-border channels available, especially through the links with China, such as the Mutual Recognition of Funds. With 70 per cent of asset managers ranking Greater China as very or extremely important to their firm’s global strategy, growth is expected to continue.

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