Universal-Investment has been appointed as the new ManCo for the Luxembourg fund portfolio of Switzerland’s Fisch Asset Management. The Fisch Umbrella Fund, with AuC of c. EUR4.5bn (USD5.1bn), covers 13 UCITS sub-funds which include corporate bond, convertible bond and absolute return funds. RBC Investor Services Bank remains responsible for fund administration, custody and transfer agency.…
Year: 2022
RBS expands TA deal with SS&C
RBS Collective Investment Funds Limited (RBSCIFL), a wholly-owned subsidiary of the UK bank, NatWest, has renewed and expanded its transfer agency contract with SS&C. RBSCIFL migrated more than 700,000 child trust funds, 36,000 individual savings accounts, and 20,000 Junior Investor Savings Accounts to SS&C’s global investor and distribution solutions operation as part of the expansion.…
IQ-EQ hires global head of transformation
IQ-EQ, the Luxembourg-based investor services provider, has appointed Frédérik Benoit as global head of transformation, a new role. Benoit, who will be based in Luxembourg, joins from Standard Chartered, where he was global head of fiduciary & fund services operations. IQ-EQ has recently been adding to its senior management team, with a new COO, CIO…
Leith Wheeler expands CIBC Mellon relationship
CIBC Mellon has been selected to provide custody services to Leith Wheeler Investment Counsel Ltd. for several investment funds. This mandate builds on a 25-year asset servicing relationship between CIBC Mellon and Leith Wheeler. Leith Wheeler manages >CAD23bn (USD18bn) for clients across Canada.
FundRock to support new RAIF for NRP MAM
FundRock, the Luxembourg-based third-party ManCo and AIFM owned by Apex Group, has supported the launch of NRP Maritime Asset Management’s (NRP MAM) Premium Maritime Credit Fund. FundRock will act as AIFM and deliver FX services via Apex Group subsidiary EDB. Premium Maritime Credit Fund, a Luxembourg-domiciled RAIF, reached first close in January 2022, raising USD110m,…
Link to administer Life Science REIT
Life Science REIT Plc has appointed Link Group as fund administrator, registrar, and company secretary. The mandate follows Life Science REIT Plc’s GB350m (USD470m) initial public offering and its admission to the AIM market of the London Stock Exchange.
Ocorian hires regional head of fund services
Ocorian, the C.I.-based administrator, has hired Mary Bruen as regional head of fund services for its Jersey, Guernsey and Isle of Man offices. She joins from Link Group, and is based in Jersey.
ChiLin selects PFS-PAXUS
ChiLin Global Fiduciary Services Ltd, a Mauritius-based professional services firm and full-service fund administration provider, has selected the PFS-PAXUS fund administration system for its third-party fund administration business operations. PFS-PAXUS is a product of Pacific Fund Systems, a provider of global fund administration software. PFS-PAXUS will provide ChiLin Global with multi-currency fund accounting, portfolio valuation,…
LuxSE and SG pioneer DLT token listing
The Luxembourg Stock Exchange (LuxSE) and Société Générale have completed the admission of the first financial instruments registered on a public DLT platform on LuxSE’s Securities Official List. The three sets of security tokens admitted on LuxSE SOL are digital covered bonds (OFH tokens) and structured products that have been issued and deployed by SG’s…
For What It’s Worth
Custody is dead. Long live custody. The results are in and, predictably, market observers are focused on the wrong thing. First things first: the banks that have a serious custody/inserv business did well in 2021, generally reporting good revenue growth against the continuing backdrop of low, zero or negative interest rates. Can you hear the…