Fintech solutions provider iFAST HK can now act as a custodian for private Open-ended Fund Companies (OFCs).
The OFC regime, introduced in 2018 and refined over the years, offers fund managers an alternative corporate fund structure with flexible capital arrangements.
Private OFCs, in particular, benefit from simplified regulations, enabling investments in diverse asset classes such as private equity and traditional investments, catering to fund managers’ needs for flexibility.
iFAST’s move to provide custodian services for private OFCs aligns with its broader strategy of expanding wealth management and fund administration offerings.
This marks a milestone in iFAST’s commitment to providing comprehensive and innovative solutions for fund managers and investors.
With access to thousands of funds, direct bonds, and multiple equities markets, the firm emphasises fee transparency while strengthening its presence in Hong Kong’s financial ecosystem.
“As a trusted wealth management platform, iFAST is proud to provide custodian services for private OFCs, ensuring the integrity and security of assets.
This strengthens investor confidence and supports the growth of Hong Kong’s dynamic fund ecosystem.”
said Glory Lau, General Manager, Platform Services at iFAST Financial (Hong Kong).