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The Custodian – HSBC Custody Services (Guernsey) Limited
The Custodian is HSBC Custody Services (Guernsey) Limited and together with its associated company HSBC Securities Services (Guernsey) Limited, is one of the longest established service providers to fund managers in Guernsey. Both entities are regulated by the Guernsey Financial Services Commission.
HSBC Custody Services (Guernsey) Limited is the appointed custodian of the assets of the X Funds and fulfils fiduciary responsibilities in line with this role.
The Custodian has an authorised, issued and fully paid share capital of £4,000,000 and assets under custody of US$11 billion as at 31 December 2006. The Custodian is a wholly owned subsidiary of HSBC Holdings plc, a public company incorporated in England. The HSBC Group has major commercial and investment banking business in the Asia Pacific region, Europe, the Americas, the Middle East and Africa. The HSBC Group has over 10,000 offices in 82 countries/territories world-wide and assets of over US$1,861 billion as at 31 December 2006.
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