SKN | Brown Brothers Harriman Supports ICBC UBS Asset Management’s New Hong Kong ETF

Brown Brothers Harriman (BBH) has been appointed custodian and administrator for ICBC UBS Asset Management International’s (ICBCUBSI’s) newly launched Hong Kong-listed ETF, developed in partnership with Krane Funds Advisors. Through BBH Trustee Services (Hong Kong), the firm will also act as trustee and registrar for the fund.

The new ICBC UBS KraneShares KWEB ETF provides Hong Kong investors access to the underlying strategy of the U.S.-listed CSI China Internet ETF (KWEB), and includes both listed and unlisted share classes.

Growing Demand for Tech-Themed ETFs

BBH says the timing of this launch aligns with rising demand among Hong Kong investors for technology-focused exchange-traded products. Chris Pigott, head of Hong Kong ETF servicing at BBH, noted that tech-themed ETFs listed on the Hong Kong Stock Exchange have experienced 102% year-on-year growth, attracting more than HK$29 billion in net inflows during the first nine months of 2025.

Pigott added that BBH’s 2025 ETF Investor Survey revealed 97% of ETF investors in Hong Kong planned to increase their ETF allocations this year, underscoring the momentum behind thematic and sector-driven strategies.

A Strategic Partnership for Market Entry

For ICBCUBSI, this marks its first ETF launch in the Hong Kong market. The firm selected BBH due to its extensive experience in ETF servicing and its strong operational infrastructure in the region.

“With our first ETF launch in Hong Kong, we wanted to partner with a proven global ETF service provider who knows the Hong Kong ETF market—that is why we chose BBH,” said Dylan Zhang, head of ETFs at ICBCUBSI. He added that BBH’s innovative ETF technology platform and comprehensive service offering were key factors in the decision.

Expanding ETF Access in Asia

The introduction of the KWEB-linked ETF aims to broaden access to China’s fast-growing internet and technology sectors, particularly for investors seeking exposure through Hong Kong’s regulated and internationally accessible market structure.

By collaborating with KraneShares and BBH, ICBCUBSI aims to position itself competitively in Asia’s rapidly expanding ETF landscape, where investor appetite for thematic and tech-driven strategies continues to accelerate.

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