Affin Hwang Asset Management Berhad has become the first Malaysian asset manager to launch a Luxembourg registered Ucits fund, the Affin Hwang Capital Asian Series.

BNP Paribas Securities Services has been selected as the administrative, registrar, transfer and domiciliary agent as well as custodian. Affin Hwany believes that the relationship will be beneficial to Affin Hwang AM, providing the technical knowledge and experience as Affin Hwang AM ventures into unchartered territory.

"This is an exciting time for Affin Hwang AM as this marks its foray into the European market with an umbrella of two Asian equity focussed funds. The launch signifies a growth strategy of the company," said Esther Thye, chief strategy officer of Affin Hwang AM.

Affin Hwang AM specialises in Asian equity and fixed-income instruments and manages over €7bn of assets.