AGF, the Canadian asset manager with c. CAD36bn AuM, has expanded its relationship with CIBC Mellon, which has been appointed to provide fund accounting, custody, fund administration and recordkeeping for Highstreet Asset Management, AGF’s private client subsidiary. The mandate also includes performance, valuation and reconciliation accounting services for AGF’s institutional business, and the transition of a team of AGF fund administration professionals to CIBC Mellon. This mandate is in addition to CIBC Mellon’s existing mandate for which delivers custody, fund accounting and fund administration, securities lending, foreign exchange processing and settlement, and ETF services for AGF’s suite of Canadian funds.
Chris Jackson, COO, AGF, said: “The selection of CIBC Mellon is a natural extension to our existing relationship, allowing for continued operational synergies across AGF’s business. As part of the AGF family, Highstreet will also benefit from CIBC Mellon’s tailored approach, corporate governance model, robust operational capabilities, and commitment to its people.”