Chimera Capital LLC, an Abu-Dhabi-based asset management firm and subsidiary of Chimera Investments LLC, has launched the Chimera S&P UAE Shariah ETF, a physical, in-kind, liquid and fully fungible ETF. Under the UAE’s Securities and Commodities Authority’s (SCA) fund regime, Chimera Umbrella Fund – the first SCA umbrella fund to be launched in the UAE…
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MUFG selects Broadridge’s Sentry for private debt admin
MUFG Investor Services has selected Broadridge’s Sentry loan tracking and reporting software to service its clients in the private debt space. The web-based system, which Broadridge added to its solution set with its 2019 acquisition of ClearStructure, enables users to monitor compliance issues and reconcile and aggregate data to streamline or automate processes.
Sudrania adds >50 clients in H1
Sudrania Fund Services, the Chicago-based administrator, added 52 new clients added to its platform in H1 2020. The company reported that 60pct of these were conversions from competitor administrators, covering mandates for hedge, private equity, CTA, and crypto funds.
HSBC authorised to process mutual fund orders in Taiwan
HSBC has received approval from the Taiwan Banking Bureau to on-board mutual fund order placement services for asset managers locally. This is as an extension of HSBC’s regional fund administration offering, enabled through a local support model in Taiwan.
Michael Neborak joins Ultimus as CFO
Ultimus Fund Solutions, a U.S.-based administrator with USD150bn AuA, has appointed Michael Neborak as chief financial officer. Neborak most recently served as controller and chief accounting officer at First Data Corporation.
Michael O’Loughlin joins State Street from BNY Mellon
Michael O’Loughlin has joined State Street’s insurance and asset management sales team in the U.S. He previously spent 14 years at BNY Mellon.
BP2S’s Ffyn reports strong growth
BNP Paribas reports that Ffyn, the collaborative fund information platform supported and incubated by BNP Paribas Securities Services, now has 53 asset managers and investors on board, whilst collating information on more than 100,000 funds. Launched a year ago, Ffyn aims to become a single source of information for the mutual fund industry by bringing…
Citi wins USD630bn white-label custody mandate for MUFJ in Lux
In a strategically important mandate for its Luxembourg business, Citi has been appointed as the global custody solutions provider for Mitsubishi UFJ Investor Services & Banking (Luxembourg) (MIBL). The deal will result in the transfer of approximately USD630bn of assets to Citi’s platform. As part of the deal, MIBL will white label Citi’s custody platform…
AGF adds to CIBC Mellon’s mandate
AGF, the Canadian asset manager with c. CAD36bn AuM, has expanded its relationship with CIBC Mellon, which has been appointed to provide fund accounting, custody, fund administration and recordkeeping for Highstreet Asset Management, AGF’s private client subsidiary. The mandate also includes performance, valuation and reconciliation accounting services for AGF’s institutional business, and the transition of…
Aztec to administer Stirling Square’s EUR950m fourth PE fund
Aztec Group, the C.I.-based administrator, has been appointed to administer Stirling Square Capital Partners’ Fourth Fund. With EUR950m in total commitments, the fund is Stirling Square’s largest to-date and will focus on the European mid-market. Aztec supported Stirling Square, a UK-based private equity manager, with the set-up, launch and closing of the fund, and will…