BNP Paribas Securities Services has been selected to provide custody and fund services to BEA Union Investment, the first fund manager to use Hong Kong’s Open-ended Fund Company (OFC) regime for an actively managed retail fund. BP2S will provide BEA Union Investment with a range of services, including fiduciary duties, fund administration and transfer agency.
Month: June 2020
BNP Paribas wins EUR2.3bn sec lending mandate for Fondoposte in Italy
BNP Paribas Securities Services has been appointed to provide securities lending services to Fondoposte, the national supplementary pension fund for the employees of Poste Italiane S.p.A. BP2S will provide Fondoposte with securities lending services covering approximately EUR2.3bn of assets. BP2S has been providing depositary banking services to Fondoposte since 2016.
Northern Trust launches new series trust
Northern Trust has launched Datum One Series Trust, the second trust it now offers. Advisers Investment Trust, launched in 2011, has grown to approximately USD18bn in assets. The series trusts allow managers to focus on distributing their funds under their own brand name and marketing strategy while leveraging Northern Trust’s infrastructure and back-office services.
State Street to service Fidelity’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent for Fidelity Investments’ new range of semi-transparent, actively managed ETFs. Fidelity is the first asset manager to receive regulatory approval for three investment strategies: Fidelity Blue Chip Growth ETF, Fidelity Blue Chip Value ETF, and Fidelity New Millennium ETF, which will be available through Fidelity’s proprietary proxy…
U.S. Bank to provide MO services for Carlyle Group’s CLO portfolio
The Carlyle Group has appointed U.S. Bank to provide middle office and financial reporting services for its CLO portfolio, comprised of more than 50 U.S. and European CLOs. This dual mandate expands U.S. Bank’s current service offering with Carlyle. The Carlyle Group manages more than USD25bn in CLOs in the U.S. and in Europe.
BNY Mellon hires Caroline Butler as global head of custody
BNY Mellon has hired Caroline Butler as global head of custody, reporting to Roman Regelman, head of asset servicing & digital. She will be based in New York. Butler spent nearly two decades at J.P. Morgan, where she was most recently head of global custody product for the Americas. She replaces Tom Casteleyn, who is…
BP2S uses NLG to generate client reports
BNP Paribas Securities Services is using natural language generation (NLG) to help clients with monitoring and oversight of their operations. Along with traditional monthly statistics reports providing in-depth data on their operations, BP2S clients will receive analysis and commentaries on their assets under custody, settlement, corporate actions and income activities. This one-page executive summary, written…
Ocorian hires Nick Bland as head of UK client services
Ocorian, the C.I.-based administrator, has appointed Nick Bland as head of UK client services. Based in London, he will manage client service delivery to corporate and institutional clients, private clients, alternative investment funds and corporate trust clients. He joins from Deutsche Bank.
Aztec Group to administer two new VC funds for Lakestar
Aztec Group, the C.I.-based administrator, has supported the European venture capital specialist firm, Lakestar, with the closing of Lakestar III and Lakestar Growth I funds. Lakestar III closed with commitments of EUR252m, whilst Lakestar Growth I raised a total of EUR426m. Aztec’s private equity team in Guernsey will provide ongoing administration and accounting services.
BNY Mellon to build out FX presence in Singapore
BNY Mellon plans to build a high-performance FX pricing and trading engine in partnership with the Monetary Authority of Singapore. The bank will establish new low-latency electronic FX infrastructure in Singapore, helping to improve execution quality and price discovery for clients initially in spot, and subsequently in deliverable and non-deliverable forwards and swaps. This follows…