Asset service providers showcased their capabilities and creative skills by servicing innovative mandates resulting from the development of new markets and new product structures.

The growing trend towards sustainability, for example, has led to the first tokenized green bond mandate launched by the Hong Kong government, a new structure which required issuer services, the first for a digital fixed-income instrument that is also sustainable.

Also, the opening of the global depositary receipts (GDR) market on the Swiss Exchange in response to growing investor demand has resulted in the first batch of GDR mandates issued in the European market by Chinese corporates.

This is also the first time that The Asset is recognizing fund administration mandates from Chinese service providers, particularly CITIC Securities and CLSA Fund Services.

In addition, there are the traditional custody and fund administration mandates that require new capabilities from asset service providers to meet the new and expanding requirements of their clients.  

The Asset board of editors also relied on client feedback based on our own in-house asset servicing survey as well as confidential client calls from the clients who launched the mandates themselves.

It is in this context that we announce the winners of the Mandates of the Year of The Asset Triple A Sustainable Investing Awards for Institutional Investor, ETF, and Asset Servicing Providers 2023.

MANDATES OF THE YEAR

Best Domestic Custody Mandate, India

Deutsche Bank

PFRDA - NPS Trust

PFRDA - NPS Trust is a marquee mandate in the Indian market, given its huge asset size, scale of operations, and the comprehensive visibility of the market.

Best Custody Mandate – Retail Funds, China

CITIC Securities

Zhonggeng Fund

The mandate demonstrates CITIC Securities’ professional services despite the pandemic lockdown in China. Zhonggeng Fund is satisfied with CITIC Securities’ capability to move swiftly and onboard the mandate in an efficient manner.

Best Fund Administration Mandate – Retail Funds, India

Deutsche Bank Bajaj Finserv Asset Management Limited

With this mandate, Deutsche Bank became the custodian and fund administrator for Bajaj Finserv Asset Management, demonstrating the bank’s strengths for best practices and its proven track record of seamless client in-transitions.

Best Fund Administration Mandate – Retail Funds, Philippines

Deutsche Bank

First Metro Asset Management

The First Metro Asset Management mandate highlights the ability of Deutsche Bank to deliver fund administration reports consistently and ahead of the agreed service-level agreement with its clients.

Best Fund Administration Mandate – Alternatives, Hong Kong

CLSA Fund Services

River Capital

CLSA Fund Services provided River Capital with an efficient solution that helps the fund manager to transfer one of their Cayman funds to Hong Kong without closing the fund and registering it as an OFC structure.

Best DR Mandate for new energy, China

Citi

Gotion High-Tech

Gotion High-Tech Co Ltd’s DR mandate is a landmark mandate, being the first GDR listed on the Swiss Stock Exchange by a Chinese lithium-ion battery manufacturer.

Best DR Mandate for medtech, China

Deutsche Bank

Lepu Medical Technology (Beijing)

This is Deutsche Bank’s first Swiss GDR listing for a Chinese medical/healthcare company under the China-Switzerland Stock Connect programme and the first GDR programme from A-share companies listed on the ChiNext Board of the Shenzhen Stock Exchange in China.

Best Corporate Trust Mandate for SPACs, Hong Kong

China Construction Bank (Asia)

Aquila Acquisition Corporation

China Construction Bank (Asia) managed to service Aquila Acquisition Corporation in the first special purpose acquisition company (Spac)  listed on the Hong Kong Stock Exchange as a result of its pioneering capability and swift engagement with the market.

Best Corporate Trust Mandate for green bonds, Hong Kong

HSBC

The Government of the Hong Kong Special Administrative Region of the People’s Republic of China

Hong Kong’s first Green Bond issued in “Tokenised” form

This mandates highlights HSBC’s capabilities across issuer services, particularly the ability to support new and innovative structures in emerging asset classes such as green bonds.

Best Corporate Trust Mandate, India

Deutsche Bank

JSW Infrastructure Limited

This is a landmark deal not only for Deutsche Bank but for the wider industry during the year. JSW Infrastructure is the first Indian ports company to successfully raise funds through sustainability-linked bonds and to successfully issue a long-tenor high-yield corporate bond in their debut issuance itself.

For the full list of awardees, please click here.

To join the in-person annual celebratory dinner on June 19, 2023 in Hong Kong, please contact us at [email protected].