StonePine Asset Management, a Montreal-based manager with CAD60bn (USD46bn) AuM, has appointed CIBC Mellon to provide asset servicing solutions including fund accounting and administration, global custody, unitholder recordkeeping, and investment information data access and reporting via the NEXEN investment data platform.
Earlier this year StonePine signed an agreement with SimCorp, a provider of SaaS investment management solutions, for a front-to-back investment processing service. The agreement will allow StonePine to run all aspects of the portfolio management, trading, and compliance process on the same platform as post-trade operational activities (reconciliation, corporate actions, trade lifecycle management, etc.) which will be supported by SimCorp’s accounting and operations services unit.