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…
Category: Mandates
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…
Franklin Templeton outsources TA
Franklin Templeton, the U.S.-based investment management firm that manages USD1.56trn in assets globally, has agreed with FIS, the U.S. based fintech, that FIS will assume operation of Franklin Templeton’s global TA function as a sub-agent or delegate, depending on the jurisdiction. All Franklin Templeton TA employees affected by this change will be given job opportunities.…
BP2S supports First Plus for VCC funds
BNP Paribas Securities Services has been selected by First Plus Asset Management to provide fund administration services for funds using Singapore’s variable capital company (VCC) structure. As part of the mandate, BP2S will provide First Plus with global custody, hedge fund administration and investor services for its Asia Opportunity Fund and Asia Special Situation Fund…
JPMAM appoints JPM for MO
J.P. Morgan Asset Management (JPMAM), which has USD2.6trn AuM, has selected J.P. Morgan’s securities services division, part of the corporate & investment bank, to support a new global operations model using its investment middle office services capabilities. JPMAM is commencing a multi-year initiative to implement this model, which includes the provision of middle office services,…
State Street to support new VanEck Bitcoin ETF
VanEck, the U.S.-based manager with USD82.2bn AuM, has announced the imminent launch of its VanEck Bitcoin Strategy ETF (XBTF), an actively managed ETF that seeks capital appreciation by investing in standardised, cash-settled bitcoin futures contracts. XBTF is expected to list on Cboe on November 16, 2021. XBTF is the first ETF in VanEck’s suite of…
KB AM in Singapore selects SS&C’s front-to-back solution
KB Asset Management Singapore, the asset management arm of Korea’s KB Financial Group, has selected SS&C’s front-to-back-office solution for its operations. The solution leverages SS&C’s fund administration and middle-office services and Eze Investment Suite for order and portfolio management, compliance, and client reporting. The platform covers operations across KB Asset Management Singapore’s portfolio, including equities,…