BNP Paribas Securities Services has been selected to provide custody and fund services to BEA Union Investment, the first fund manager to use Hong Kong’s Open-ended Fund Company (OFC) regime for an actively managed retail fund. BP2S will provide BEA Union Investment with a range of services, including fiduciary duties, fund administration and transfer agency.
Category: Mandates
BNP Paribas wins EUR2.3bn sec lending mandate for Fondoposte in Italy
BNP Paribas Securities Services has been appointed to provide securities lending services to Fondoposte, the national supplementary pension fund for the employees of Poste Italiane S.p.A. BP2S will provide Fondoposte with securities lending services covering approximately EUR2.3bn of assets. BP2S has been providing depositary banking services to Fondoposte since 2016.
State Street to service Fidelity’s new semi-transparent ETFs
State Street has been appointed ETF servicing agent for Fidelity Investments’ new range of semi-transparent, actively managed ETFs. Fidelity is the first asset manager to receive regulatory approval for three investment strategies: Fidelity Blue Chip Growth ETF, Fidelity Blue Chip Value ETF, and Fidelity New Millennium ETF, which will be available through Fidelity’s proprietary proxy…
U.S. Bank to provide MO services for Carlyle Group’s CLO portfolio
The Carlyle Group has appointed U.S. Bank to provide middle office and financial reporting services for its CLO portfolio, comprised of more than 50 U.S. and European CLOs. This dual mandate expands U.S. Bank’s current service offering with Carlyle. The Carlyle Group manages more than USD25bn in CLOs in the U.S. and in Europe.
Aztec Group to administer two new VC funds for Lakestar
Aztec Group, the C.I.-based administrator, has supported the European venture capital specialist firm, Lakestar, with the closing of Lakestar III and Lakestar Growth I funds. Lakestar III closed with commitments of EUR252m, whilst Lakestar Growth I raised a total of EUR426m. Aztec’s private equity team in Guernsey will provide ongoing administration and accounting services.
UVic appoints Northern Trust in Canada for CAD2bn custody mandate
The University of Victoria (UVic) has appointed Northern Trust Canada to provide trustee, global custody, pension benefit payments and associated services for approximately CAD2.0bn in pension and foundation assets.
BBH appointed to service new Allianz Buffered Outcome ETFs
Brown Brothers Harriman has been selected by Allianz Investment Management, a wholly owned subsidiary of Allianz Life Insurance Company of North America, to provide custody, accounting, administration, TA and order taking services for its new Buffered Outcome ETFs. The first two U.S. ETFs were listed on the NYSE on June 1, with plans for additional…
BNP Paribas to act as depositary for new FII SGR PE fund in Italy
BNP Paribas Securities Services has been selected by Fondo Italiano d’Investimento SGR (FII SGR) to provide depositary banking services to its Fondo Italiano di Minoranze per la Crescita, a new private equity fund dedicated to minority investing. FII SGR was created in 2010 at the initiative of the Italian Ministry of Economy and Finance and…
BNY Mellon to service Legg Mason’s first semi-transparent ETF
Legg Mason and its affiliate, ClearBridge Investments, have launched Legg Mason’s first exchange-traded fund using the semi-transparent technology of Precidian Investments LLC, ActiveShares. BNY Mellon has been appointed to provide its new end-to-end digital solution to support the ETF.
TIH appoints HSBC for middle office, custody and fund admin services
TIH Investment Management Pte. Ltd, a private equity firm based in Singapore, has appointed HSBC Securities Services to provide administration services, including middle office, global custody and fund administration. TIH recently launched a new Asian active engagement fund, which will be equity long-only with a pan-Asian focus on small to mid-cap companies. HSS will be…