BBH supports ICBC UBS AM and KraneShares ETF launch
Brown Brothers Harriman (BBH) has announced its appointment as the custodian and administrator for a new ETF domiciled in Hong Kong launched by ICBC UBS Asset Management (International) in partnership with Krane Funds Advisors, LLC. Brown Brothers Harriman Trustee Services (Hong Kong) Limited serves as trustee and registrar.
The ICBC UBS KraneShares KWEB CSI China Internet ETF will offer listed and unlisted share classes to investors. The fund will bring investors in Hong Kong access to the underlying strategy behind KWEB, KraneShares’ flagship US-listed China Internet ETF and the largest US-listed China ETF globally.
Chris Pigott, BBH’s head of Hong Kong ETF servicing, said: “ICBCUBSI and KraneShares’ entrance to the Hong Kong ETF market is well-timed as there has been an increased demand for tech-themed ETFs from Hong Kong investors.”
Assets of tech-themed ETFs listed on HKEX have grown 102% year on year and added over HK$29bn ($3.73bn) of net new flows into those products through the first nine months of 2025, according to HKEX.
A Brown Brothers Harriman Greater China ETF Survey in May 2025 found that 97% of ETF investors in Hong Kong planned to increase their ETF allocations this year, showcasing the increasing demand for ETFs and thematic strategies.
“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.
“BBH’s innovative ETF technology platform and their comprehensive service offering were important aspects when we selected our service provider for this fund,” he added.
BBH Hong Kong has been servicing Hong Kong-based clients for over 35 years, the firm said.
