RBC Investor & Treasury Services has supported the launch of the first Luxembourg UCITS fund for Daiwa Asset Management, the second largest asset management company in Japan. RBC will provide custody, fund accounting, transfer agency and depositary services.
Category: Mandates
Victory appoints Citi for additional USD80bn of USAA assets
Citi has been appointed by Victory Capital to provide fund administration, custody, ETF services and securities lending for Victory’s most recent acquisition, USAA Asset Management. The new mandate resulted in the transfer of servicing for 53 mutual funds and ETFs to Citi, representing approximately USD80bn in assets. This new mandate expands Citi’s existing relationship with…
UK’s House of Fraser pension fund appoints Northern Trust
Northern Trust has been selected by The House of Fraser Beatties & Jenners Pension Scheme to provide global custody and valuation reporting services to its defined benefit pension scheme. The GBP800m pension scheme has approximately 10,000 scheme members across the UK.
MEAG executes bond trade in China via HSBC
MEAG, the asset manager for Munich RE and ERGO, has become the first German investor to execute a bond trade in the Chinese capital market via Bond Connect. HSBC in Germany enabled settlement of the underlying transaction as well as the related FX. Tradeweb was used as the electronic trading system to execute the transaction…
CUNA Mutual selects SS&C Precision LM for loan admin
CUNA Mutual Group has selected SS&C Precision LM to streamline the origination, servicing, accounting, asset management and regulatory reporting of its commercial mortgage loan portfolio.
GSAM appoints BNY Mellon for European ETF admin
Goldman Sachs Asset Management has appointed BNY Mellon to provide asset services for its newly launched European UCITS ETF fund range. In addition to BNY Mellon’s ETF solutions supporting order management, PCF production and AP servicing, it will also provide fund accounting, transfer agency, depository, custody, paying agent and common depository. GSAM launched its first…
IMF Bentham appoints SS&C GlobeOp for closed-end fund
IMF Bentham Cayman Advisory Services Ltd, a subsidiary of Australia-headquartered IMF Bentham Limited, has appointed SS&C GlobeOp to administer its newly launched USD500m closed-end fund that was established to underwrite non-US disputes around the world. IMF is a global dispute resolution funder. A current client, IMF appointed SS&C GlobeOp to provide fund administration, AML services…
U.S. Bank appoints BNP Paribas as European custodian
U.S. Bank, one of the world’s top 10 custodians with USD6.8trn AuC/A, has appointed BNP Paribas Securities Services as its custodian in 11 European markets (Austria, Belgium, Cyprus, France, Germany, Greece, Italy, the Netherlands, Portugal, Spain and Switzerland), as well as local custody services in the UK and Ireland. The relationship covers over USD10bn in…
Pacific Oak Capital appoints CBRE for REIT admin
CBRE has been appointed the fund and property administrator for Pacific Oak Capital, a privately held asset management company that spun off from KBS Holdings in 2018. CBRE will provide services from property to fund-level accounting and compliance work for Pacific Oak Capital’s three existing REIT-structured funds. CBRE’s investment accounting & reporting solutions group offers…
IGM outsources fund services to CIBC Mellon
IGM Financial Inc. has selected CIBC Mellon to assume most of IGM’s fund services functions. This will add fund administration servicing solutions to the custody and related services that CIBC Mellon already performs for IGM. Once definitive agreements are complete, most IGM fund services employees in Toronto and Winnipeg (c.100 people) will transition to CIBC…