As an External Asset Manager ( EAM ), UCAP Hong Kong Asset Management operates on a tripartite relationship.
UCAP HK, as an External Asset Manager ( EAM ), signs a LIMITED POWER OF AUTHORITY ( LPOA ) with clients, whereby clients authorise UCAP HK to manage their assets, including giving instructions to custodian banks to execute orders, except withdrawal authority.
UCAP HK signs a framework agreement with custodian banks , whereby UCAP HK, with the specific authorisations from clients, will execute orders upon clients’ instructions.
Clients, upon the recommendation of UCAP HK, will open accounts with the custodian banks to safekeep their assets. Only clients have the authority to withdraw funds from the accounts.