BoComm to distribute debut HSBC JV fund

Following a flop on the debut of its own funds JV, BoComm gets a new chance with group shareholder HSBC.
HSBC Jintrust, the newly-formed joint venture between HSBC Investments and the Shanxi Trust, has signed up Bank of Communications BoComm to act as the custodian and distributor of its inaugural mutual fund in China, due to be launched next month.

HSBCÆs Asia Pacific CEO, Blair Pickerell, says that while the fund is still awaiting approval from the China Securities Regulatory Commission and other regulators, he expects it to be launched by the end of March. Operationally, itÆs ready to go, he says.

Until regulatory approval is secured, Pickerell says he is unwilling to provide additional details about the fund, but admits he thinks it will be innovative, and something a little bit...
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