HSBC Luxembourg has been appointed by Ping An of China Asset Management (Hong Kong) Co., Ltd. to act as central administrator, depositary/trustee, transfer agent and custodian for its first UCITS umbrella fund, comprised initially of four sub-funds. In 2018 HSBC was appointed to service PAAMC’s first reserved alternative investment fund (RAIF) umbrella. The partnership with…
Year: 2020
Citi to service Dimensional’s new ETF range
Citi has made a major breakthrough in the U.S. ETF sector with a mandate from Dimensional Fund Advisors to act as fund administrator, custodian, and transfer agent for three new actively managed ETFs. Dimensional, a U.S.-based manager with >USD500bn AuM, announced its plans to launch these funds in June 2020. Citi has a longstanding relationship…
BNP Paribas and Allfunds complete agreement
A year after announcing the deal, BNP Paribas and Allfunds have finally completed their strategic agreement. As part of this partnership, BNP Paribas Securities Services will give its fund-buyer clients access to more than 2,000 fund houses and 100,000 funds and a range of fund analytics services from its new Fund@ccess platform, which is powered…
StanChart announces new FSS management team
Standard Chartered has announced its senior management team for the financing and securities services unit under the joint leadership of Margaret Harwood-Jones and Emmanuel Ramambason. Highlights include: Francois Verlaine – Regional Head, FSS, ASEAN & South Asia Simon Kellaway – Regional Head, FSS, Greater China & North Asia Luke Brereton – Global Head, FSS Sales…
Clearstream completes majority purchase of Fondcenter from UBS
Clearstream has completed the acquisition of a majority stake in UBS’s fund distribution platform, Fondcenter AG. Clearstream and UBS signed an agreement under which Clearstream has now acquired a 51.2pct stake in Fondcenter for CHF389m. Clearstream will combine the Fondcenter business with its existing Fund Desk, forming Clearstream Fund Centre, a global fund distribution support…
Finomial launches e-subscription service for alt funds
Finomial, a client lifecycle management platform, has launched Finomial Electronic Subscriptions to digitise the manual subscription process. With this product, Finomial claims to offer a complete solution for alternative investment managers and their fund administrators, including investor compliance, on-boarding, capital activity, collaboration, and regulatory reporting to global authorities. The service provides investors with an easy-to-use,…
Northern Trust launches portal for Canadian benefit plan participants
Northern Trust Canada has launched an online portal, Benefit Payment Participant Passport, enabling advanced automation for participants of Canadian benefit plans. The portal allows pension and benefit plan participants to access their program information in real time, 24 hours a day, seven days a week, in French or English. The self-service option supplements mailings, call…
CACEIS to service EUR1bn PE fund for ArchiMed
CACEIS has been selected to service the new MED Platform I fund run by ArchiMed, a private equity firm specialising in the healthcare sector. The mandate covers depositary bank, custody, middle-office, fund accounting and financing services for the fund, which reached a EUR1bn final close.
TMF to acquire Selectra ManCo in Luxembourg
TMF Group and Farad Group have signed an agreement for the acquisition of Selectra Management Company by TMF Group from Farad Group. Completion of the transaction is subject to regulatory approvals from the Commission de Surveillance du Secteur Financier. Selectra is a regulated management company based in Luxembourg, servicing both AIFs and UCITS.
Citi extends partnership with Netwealth to include E2C
Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…