Citi has expanded its ETF franchise with its support of the first actively managed Special Purpose Acquisition Company (SPAC) ETF from Tuttle Tactical Management, which launched the fund on December 16. Citi is providing fund accounting and administration, custody, fund compliance support services, transfer agency and ETF services for the new fund. This mandate expands…
Richard
HSBC facilitates first onshore private fund investment in China
HSBC has facilitated the first onshore private fund investment via the Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors (QFII/RQFII) scheme in mainland China. HSBC is the custodian, providing services including investment scope update filing, payments, and custody for this market-first transaction completed by Baring Asset Management Limited. The fund is the first…
Axxion transfers nine AIFs to CACEIS in Germany
Axxion S.A., a Luxembourg-based management company, has transferred nine of its funds to CACEIS in Germany. These funds are open-ended special AIFs, regulated under German law. CACEIS will provide depository and custody services as well as FX trading, fund execution, and execution & clearing for exchange traded derivatives. Total AuA is c. EUR1bn (USD1.2bn). Axxion…
Ireland passes bill to facilitate private capital growth
Ireland has completed a key financial services bill that has been in the works for over five years and is expected to create 3,000 jobs by 2025 while attracting up to EUR20bn per annum in global private capital. The Investment Limited Partnerships (Amendment) Bill 2020 opens the door for new global private fund market entrants…
SS&C to acquire Millennium Consulting Services
SS&C has entered into a definitive agreement to acquire Millennium Consulting Services and Millennium Seminar Services, which provide consulting and training services to insurance companies and insurance regulators. The purchase price for the two entities was not disclosed. The acquisition will add 13 employees across the U.S. The founders of the Millennium companies, Bruce Cromartie…
HF FS hires Monette Windsor from MUFG in Cayman
HF Fund Services, a member of the Equiom Group, has appointed Monette Windsor as director in its Cayman Islands office. HF Fund Services provides independent directors to alternative investment funds and investment management companies. Previously, she was the managing director of MUFG Alternative Fund Services (Cayman) Limited, (formerly UBS Fund Services (Cayman) Ltd).
State Street launches cloud-native data management platform
State Street has launched its Alpha Data Platform, an end-to-end data management and warehouse solution for institutional investment and wealth managers. The platform enables clients to assemble and access investment data spanning internal and third-party services across their investment processes. It provides access to front office data in near real-time, and incorporates data catalog and…
Northern Trust celebrates 20 years in Ireland
Northern Trust is celebrating 20 years since it established a presence in Ireland through its acquisition of Ulster Bank Investment Services. Northern Trust is the third largest provider of fund administration and custody services in Ireland, according to Monterey, employing more than 1,600 people in its offices in Dublin and Limerick. In 2011 Northern Trust…
Oak and PraxisIFM end merger talks
Oak Group and PraxisIFM Group, two Guernsey-based administrators, have called off their proposed merger, first announced in August 2020. In a statement, Oak said: “With a particularly unpredictable global economic backdrop, a number of hurdles have led to the cessation of discussions”.
SS&C launches cloud-based Blue Sky portal
SS&C has launched its Blue Sky portal, a cloud-based technology solution to help investment managers comply with state Blue Sky laws. The web-based portal is designed to maximise compliance in an efficient and scalable way. Key features include an updated information stream for state fee calculations and best practices. An enhanced exemption process for social…