Hong Kong, 11 December 2025 – 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) Company Limited (ICBCUBSI) 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.
“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$29 billion of net new flows into those products through the first 9 months of 20251,” said Chris Pigott, BBH's Head of Hong Kong ETF Servicing. “In our 2025 ETF investor survey, 97%2 of ETF investors in Hong Kong planned to increase their ETF allocations this year, showcasing the increasing demand for ETFs and thematic strategies, such as this offering.”
“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.”
About Brown Brothers Harriman (BBH)
Brown Brothers Harriman (BBH) is a global financial services firm known for premium service and specialist expertise. We have a 200-year track record helping clients innovate and navigate complex financial markets. Our 6,000 employees serve clients and their investments in over 90 markets across BBH's 18 offices. As a private partnership, we are uniquely built to put clients first and create success that lasts.
BBH Investor Services is a leading provider of asset servicing and operating model solutions to global asset managers and financial institutions. Our asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, and transfer agency. Our operating model solutions solve platform, data, and connectivity challenges across open-architecture operating models. We support our clients' growth, enhance operational efficiency and resiliency, and streamline reporting and oversight.
About Brown Brothers Harriman Hong Kong
BBH Hong Kong has been servicing Hong Kong based clients for over 35 years. As a cross-border specialist with a strong focus on Greater China, BBH is a market leader in helping global asset managers access the region's growing capital pools, and Greater China managers looking to distribute their products globally.
1HKEX’s Insight: Hong Kong’s ETP Markets: Six Trends in 2025
2Brown Brothers Harriman Greater China ETF Survey, May 2025
Brown Brothers Harriman & Co. (“BBH”) may be used to reference the company as a whole and/or its various subsidiaries generally. This material and any products or services may be issued or provided in multiple jurisdictions by duly authorized and regulated subsidiaries. This material is for general information and reference purposes only and does not constitute legal, tax or investment advice and is not intended as an offer to sell, or a solicitation to buy securities, services or investment products. Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code, or other applicable tax regimes, or for promotion, marketing or recommendation to third parties. All information has been obtained from sources believed to be reliable, but accuracy is not guaranteed, and reliance should not be placed on the information presented. This material may not be reproduced, copied or transmitted, or any of the content disclosed to third parties, without the permission of BBH. All trademarks and service marks included are the property of BBH or their respective owners. ©Brown Brothers Harriman & Co. 2025. All rights reserved. IS-11198-2025-12-10
