Sanford C Bernstein Ltd, the broker/dealer subsidiary of Alliance Bernstein, has appointed BNP Paribas Securities Services to provide settlement services in Austria, Germany, Italy, Turkey and Euroclear Bank. This appointment follows Sanford C Bernstein’s decision to consolidate its providers in Europe and strengthens its relationship with BNP Paribas Securities Services, which already provides the broker/dealer…
Category: Mandates
WHEB AM appoints FundRock as ManCo for new ICAV
WHEB Asset Management LLP, a UK manager, has appointed FundRock Management Company S.A. as the ManCo for a new Irish-domiciled ICAV. FundRock will provide oversight of the delegated functions, risk and compliance monitoring, as well as distribution support services for the new structure and its sub-fund. FundRock already acts as the authorised corporate director for…
Federated Mutual selects Northern Trust for USD7bn custody mandate
Northern Trust has been selected by Federated Mutual Insurance Company to provide global custody and cash management services for over USD7bn of insurance assets.
Citi wins USD600m servicing mandate for Russia’s first ETF issuer
Citi has been awarded the mandate to provide ETF services for the full fund range of FinEx ETF, Russia’s first ETF issuer. Under the agreement, Citi will service FinEx’s 13 ETFs, coveringUSD600m in assets. Citi will provide a range of services across custody, fund administration and basket services, as well as distribution support through Citi…
PAAMC mandates HSBC in Lux to service first UCITS umbrella fund
HSBC Luxembourg has been appointed by Ping An of China Asset Management (Hong Kong) Co., Ltd. to act as central administrator, depositary/trustee, transfer agent and custodian for its first UCITS umbrella fund, comprised initially of four sub-funds. In 2018 HSBC was appointed to service PAAMC’s first reserved alternative investment fund (RAIF) umbrella. The partnership with…
Citi to service Dimensional’s new ETF range
Citi has made a major breakthrough in the U.S. ETF sector with a mandate from Dimensional Fund Advisors to act as fund administrator, custodian, and transfer agent for three new actively managed ETFs. Dimensional, a U.S.-based manager with >USD500bn AuM, announced its plans to launch these funds in June 2020. Citi has a longstanding relationship…
CACEIS to service EUR1bn PE fund for ArchiMed
CACEIS has been selected to service the new MED Platform I fund run by ArchiMed, a private equity firm specialising in the healthcare sector. The mandate covers depositary bank, custody, middle-office, fund accounting and financing services for the fund, which reached a EUR1bn final close.
Citi extends partnership with Netwealth to include E2C
Citi has agreed to extend its partnership with Netwealth, a fund platform based in Australia, as its provider of global custody, global and domestic equities execution and fund administration. Netwealth will be the first Australian wealth platform to have access to Citi’s Execution to Custody (E2C) service, which provides global execution, settlement and custody services…
Ultimus appointed as transfer agent by Domini Impact Investments
Ultimus Fund Solutions, a U.S. based independent administrator, has been selected as transfer agent by Domini Impact Investments LLC, an impact investor based in New York. Domini appointed Ultimus to provide transfer agency, including customised shareholder services, to the four Domini Impact Funds, with over USD2bn AuM. Ultimus completed the conversion process in June 2020.
Samsung Fire & Marine appoints HSBC as global custodian
HSBC has been appointed as global custodian by Samsung Fire & Marine Insurance (SFMI), a non-life insurance company in Korea, for part of its investment portfolio in the U.S., Europe, Japan and China. HSBC completed an asset transition of a portion of SFMI’s fixed income portfolios in these markets. This comes after the bank’s onboarding…