Railpen, one of the UK’s largest pension funds with c. GBP35bn AuM, has selected FINBOURNE’s cloud-based investment data management platform, LUSID, as its IBOR solution. LUSID will support Railpen’s multi-asset portfolios with standardised data and an aggregated view of positions and exposure. The mandate follows the recent decision by UK-based Baillie Gifford, the GBP352bn asset…
Category: Mandates
Apex to service Azimut’s life insurance company
Apex has been appointed to provide fund administration and middle office services to Azimut Life dac, the Ireland-registered life insurance company of Azimut Group, an Italy-based independent asset management firm with >EUR80bn (USD91bn) AuM.
Zodia and Northern Trust to support Invesco’s new Bitcoin ETP
Invesco, the U.S.-based asset manager with USD1.5trn AuM, has launched a Bitcoin ETP on Xetra that is aimed sophisticated investors looking to gain exposure to the cryptocurrency. The Invesco Physical Bitcoin ETP will be 100pct backed by holdings in the underlying digital assets, with the aim of delivering the price performance of Bitcoin, less a…
Pendal expands relationship with Northern Trust
Northern Trust has been appointed to deliver a range of asset services to the Pendal Group Limited across Australia, UK and Ireland. Northern Trust has also expanded the services it performs for Pendal’s business in the U.S. The appointment by Pendal, a global investment manager with AuM of AUD139.2bn (USD104.4bn), covers its wholly owned subsidiary…
Mirae appoints Citi in Australia
Mirae Asset Global Investments, a Korea-based investment manager with USD218bn AuM, has appointed Citi Australia as provider of custody and fund administration services for its Australian traditional fund business. Kris Walesby, CEO, Mirae Asset Australia said: “We are delighted to partner with a highly experienced partner such as Citi as we strategically look at growth…
Northern Trust to support new CCF for Storebrand
The Asset Management Exchange (Ireland) Limited has launched a tax transparent common contractual fund for Storebrand Asset Management, the Nordic manager which has NOK1,058bn (USD120bn) AuM in both private and public markets. AMX provides the fund structure, the management company and the operational set-up, and facilitates the tax reclaim process. This enables UK pension funds…
J.P. Morgan appoints Clearstream in Australia
Clearstream Australia Ltd has been appointed by J.P. Morgan as its sub-custodian for unlisted managed funds and hedge funds in Australia and New Zealand. After J.P. Morgan withdrew from the sub-custody business in Australia and New Zealand in 2020, Clearstream appointed BNP Paribas as its local provider. Clearstream entered the Australian market in 2019 after…
Nordea to implement Multifonds in Lux
Nordea Investment Funds SA, the largest asset manager in the Nordics, and part of the Nordea Group, has chosen the Temenos Multifonds platform for its transfer agency business in Luxembourg. Nordea Investment Funds provides in-house administration for >EUR100bn (USD110bn) of assets. Temenos claims to serve nine of the top 15 transfer agents in Luxembourg.
Aztec to deploy Fenergo’s CLM solution
Aztec Group, the C.I.-based administrator with EUR440bn AuA (USD500bn), has appointed Fenergo, a provider of digital solutions for client lifecycle management, to deploy its cloud-native, SaaS solution to transform the client and investor lifecycle. Aztec will implement the solution across its offices in the Channel Islands, Europe and the U.S. to digitise and streamline onboarding…
Northern Trust supports Castelnau
Northern Trust and Carey Olsen, the specialist offshore law firm, have supported Castelnau Group Limited with its IPO on the London Stock Exchange. The Guernsey-domiciled investment company, managed by Phoenix Asset Management, was recently launched on the LSE following a GBP178m (USD245m) IPO. Castelnau is focused on investing in both public and private companies with…