HSBC Securities Services (HSS) has been appointed by Lynx Asset Management AB to provide administration and global transfer agency services to its two Swedish onshore fund vehicles, amounting to approximately USD1 billion assets under management.
Founded in 1999, Lynx is a Commodity Trading Adviser (CTA) with approximately USD6bn in assets under management and is part of the Brummer group.
These additional funds will be serviced by HSBC Securities Services Ireland (HSSI), which has had a client relationship with Lynx since 2004. It will be the first time that HSSI will service such Swedish onshore funds.
Tony McDonnell (pictured), Head of HSBC Securities Services in Ireland, says: “We are delighted that Lynx has chosen HSBC to service these funds in addition to the existing business we hold with them. It also further demonstrates our capabilities and developmental flexibility within Global Transfer Agency and Accounting and Valuations. We look forward to continuing our long partnership with Lynx.
“As well as being a reflection on our excellent relationship with Lynx to date, this is a strategically important win for our Irish business and expands our product coverage.”
Marcus Andersson, Partner and COO for Lynx Asset Management AB, says: “We, Lynx Asset Management AB, have chosen to introduce an independent third party valuation of our Sweden-based fund vehicles as of October 2015. When evaluating different service providers, it was a natural step for us to continue and deepen our long-standing professional relationship with HSBC."
HSBC Securities Services Ireland services in excess of USD148bn in assets across 60 clients from its offices in Dublin.