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HSBC Securities Services lands USD1.3 billion RWC mandate

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HSBC Securities Services (HSS), part of HSBC’s Global Banking and Markets business, has been appointed by RWC Partners Limited to provide administration and global transfer agency services to five new alternative funds.

These funds, which will be managed by RWC's Emerging and Frontier Markets Equity Team, are expected to attract an anticipated USD1.3 billion assets under management during launch.
Founded in 2000, RWC is an independent investment manager with approximately USD11 billion in assets under management.
The new funds will be serviced by HSBC Securities Services Ireland, which has had a client relationship with RWC since 2002.
Tony McDonnell, Head of HSBC Securities Services in Ireland, says: “We are delighted that RWC has chosen HSBC to service these funds in addition to the existing business we hold with them and we look forward to continuing our long partnership.
“As well as being a reflection on our excellent relationship with RWC to date, this is also a strategically important win for our Irish business. Emphasising our global reach, the relationship will be with RWC's new US office and focusing on a pan-Asian investment strategy.”
Paul Larche, Chief Operating Officer for RWC, adds: “We are very pleased to be extending our relationship with HSBC Securities Services, which has been a great partner for many years. When we seized the opportunity to bring onboard an already well-established Emerging and Frontier Markets
Equity Team to manage this portfolio, we knew that we needed a provider we could rely on. HSBC worked with us to ensure the success of a number of fund launches in quick succession and we are grateful for the team's experience and ongoing support.”
HSBC Securities Services Ireland services in excess of USD140 billion in assets across 60 clients from its offices in Dublin.

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