Ultimus Fund Solutions, an independent provider of fund administration, accounting, and investor solutions, has hired Michael Prendergast as SVP, ETF senior product specialist. Prendergast has previously worked at State Street and J.P. Morgan in senior ETF-related roles. Ultimus reports that, since the beginning of 2020, it has doubled the number of ETFs it services.
Category: ETF
Rob Rushe joins CACEIS to head ETF solutions
Robert Rushe, one of the pioneers of the European ETF industry, has joined CACEIS as head of ETF solutions, based in Ireland. Rushe was part of the BoISS ETF team that joined Northern Trust after its acquisition in 2011, and most recently worked at BNY Mellon as head of the ETF business for EMEA.
Putnam appoints State Street for new actively managed ETFs
Putnam Investments, which recently listed four actively managed, semi-transparent ETFs on NYSE, has appointed State Street as its service provider. Putnam leverages a proxy-based actively managed ETF model for the funds. State Street currently provides back-office work, specifically accounting and custody services, to the Boston-based investment management firm, which has USD200bn AuM.
Grayscale adds BNY Mellon as key servicing provider
Grayscale Investments, the world’s largest digital currency asset manager with >USD30bn AuM, has selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust, its flagship product. BNY Mellon will provide Grayscale Bitcoin Trust with fund accounting and administration effective October 1, 2021. Additionally, it is anticipated that BNY Mellon will provide transfer agency…
ERShares transfers mutual funds & ETFs to Ultimus
Ultimus Fund Solutions, a U.S.-based provider of fund administration, accounting, and investor solutions, has been selected by U.S.-based ERShares to provide administration services for three mutual funds and two ETFs. Ultimus is providing fund administration, fund accounting, distribution and transfer agency services for the mutual funds and ETFs, which transitioned to Ultimus in Q4 2020…
Citi supports Dimensional’s USD29bn mutual fund conversion to ETFs
Citi has successfully supported the industry’s largest mutual fund to ETF conversion for Dimensional Fund Advisors. The conversion includes four US tax-managed mutual funds into active transparent ETFs with USD29bn in assets. The ETFs are listed on NYSE. Gerard O’Reilly, co-CEO and CIO of Dimensional Fund Advisors, said: “Citi has been a long-standing service provider…
Aberdeen Standard Investments moves two ETFs to State Street
Aberdeen Standard Investments has appointed State Street as service provider for two of the firm’s ETFs. These ETFs have transitioned from another provider. State Street will now provide a range of ETF services, including custody, fund accounting, basket creation/settlement, order-taking, transfer agency and regulatory reporting. State Street currently provides global custody, accounting and fund administration…
Fubon appoints Citi to service ETP range
Fubon Fund Management (Hong Kong) Limited, a Taiwan-based manager, has appointed Citi as service provider for its first ETPs launched in Hong Kong. Citi will act as trustee and will also provide fund accounting and custody services.
State Street to service dual access ETF for AllianceBernstein in Australia
State Street has been appointed as servicing agent for an AllianceBernstein ETF in Australia that now offers the dual access option. Originally developed seven years ago, AB’s Managed Volatility Equities Fund was listed on the Chi-X exchange in April, leveraging the innovative dual access model, which enables active managers to run a single register for…
Nottingham converts mutual fund to ETF
The Nottingham Company, a U.S.-based fund administrator and private label issuer to the mutual fund and ETF industry, has completed the registration process for its first conversion of an open-end mutual fund to an ETF. Nottingham-affiliated series trust Starboard Investment Trust completed the registration portion of the process recently, with an agreed conversion date of…