UMB Fund Services and UMB Bank have been appointed to provide accounting and custody services for Pear Tree Funds, a family of six mutual funds managed by Pear Tree Advisors Inc. UMBFS will provide accounting, tax preparation and reporting, whilst UMB Bank’s institutional custody group will deliver custody services.
Category: Mandates
HomeStreet Bank deploys SS&C Precision LM for RE portfolio
HomeStreet Bank has selected SS&C Precision LM to support its commercial real estate portfolio. HomeStreet Bank is a Seattle-based commercial real estate and multifamily lender.
TEB Securities Services appointed as account operator for Euroclear in Turkey
TEB Securities Services, part of the TEB-BNP Paribas partnership, has been appointed as account operator for Euroclear Bank’s new link to Turkey.
Citi takes USD9bn of John Hancock fund assets from State Street
A major breakthrough for Citi in the ’40 Act space, where John Hancock Investment Management has transferred the custody of USD9bn in fund assets to Citi from State Street. Citi has assumed custody for three Hancock funds: the Fundamental Large Cap Core, the Balanced and the Disciplined Value International, Citi has an existing mutual fund…
BNY Mellon wins EUR40bn fund admin mandate for Deka Immobilien
BNY Mellon has been appointed by Deka Immobilien, a subsidiary of Germany’s DekaBank, to provide global fund administration coordination and oversight for its special purpose vehicles. Much of Deka’s EUR40bn in real estate assets is invested globally through SPVs. BNY Mellon’s role will be to coordinate accounting data from the SPVs around the world in…
Ocorian supports sixth PE fund for Pacific Equity Partners
Pacific Equity Partners, an Australia-based private markets fund manager, has closed its sixth core fund with Ocorian, the C.I.-based fund services provider, as administrator. The Cayman-domiciled fund has AUD2.5bn of commitments. Ocorian assisted with the establishment, launch and closings of Fund VI and will continue to provide ongoing support, including administrative, depositary and governance services…
State Street to service four new actively managed ETFs for T. Rowe Price
State Street has scored another major coup in the ETF sector, having been appointed as service provider for four recently launched T. Rowe Price active ETFs. For the past three years, State Street has supported T. Rowe Price in the development of service models and launch planning, culminating in the funds’ public availability. As part…
DZ Privatbank in Luxembourg appoints Deutsche Bank for Spanish sub-custody
The Luxembourg office of DZ Privatbank has appointed Deutsche Bank as its sub-custodian in Spain. The company consolidated the fixed income and equity assets it manages in Luxembourg and migrated these assets to Deutsche Bank at the end of July.
Citi wins custody mandate for CAVALI’s dual-listed securities in Peru
CAVALI S.A. ICLV S.A., the CSD for the Lima Stock Exchange, has selected Citi to provide custody and tax services for USD6bn of dual-listed securities. The dual listing platform of the Lima Stock Exchange and CAVALI provides investors with access to international securities. The mandate represents the majority of international assets listed locally.
Apex to provide MO services for Tabula’s ETF range
Apex Group, the Bermuda-based fund services provider, has been appointed to provide middle office solutions to Tabula Investment Management Limited. Tabula, a UK-based passive fixed income manager, launched a European ETF platform in 2018, and recently announced the addition of three sub-funds, with HSBC acting as administrator for all six funds on the platform.