State Street has been appointed to provide custody and fund order services for Confuturo, a Chile-based insurance company that is one of the largest providers of annuities in the country. In 2022 State Street opened an office in Chile.
Category: Mandates
ALC taps Equity Trustees for new fund range
AL Capital, the Australia-based investment and fund management arm of Aqualand Group with c. AUD300m (USD205m) AuM, has selected Equity Trustees to be the responsible entity (trustee) of its new range of retail funds, the ALC Global Credit Fund, ALC Active Australian Equity Fund and ALC Active Global Equity Fund.
Alger moves to BNY Mellon
Fred Alger Management, LLC, a privately-owned USD22bn growth equity investment manager, has appointed BNY Mellon to provide global fund services, as well as portfolio accounting, performance measurement and data management solutions. Alger expects to complete this transition by early 2024. Two of the outgoing providers are thought to be BBH as custodian, and UMB as…
Apex wins in South Africa
Apex has been appointed by PAPE Fund Managers (Pty) Ltd (PFM), a division of PAPE Group (Pty) Ltd, a South Africa-based private equity fund manager, to provide fund administration services. PFM acts on behalf of the PAPE Fund 3 Limited Liability Partnership comprised of nine investor groups. Apex will provide fund administration services to Fund…
Citi wins NHI&S mandate
Citi has been selected by NH Investment & Securities Co., Ltd. (NHI&S) as its global custody provider as NHI&S expands its business model to include trustee services for private investment funds in South Korea. Founded in 1969, NHI&S is one of South Korea’s largest securities firms. Citi currently provides NHI&S with FX services as well…
Inarcassa hires SGSS
Société Générale Securities Services in Italy has been selected as provider of custody and trustee services by Inarcassa, Italy’s national social assistance fund for self-employed engineers and architects, for a five-year term. Inarcassa has EUR13bn (USD14bn) AuM.
BNPP partners with ULTUMUS
ULTUMUS, the ETF fintech owned by SIX Group, is forming a strategic partnership with BNP Paribas’s securities services business for ETF servicing agent capabilities. As part of the partnership, BNPP will leverage ULTUMUS’ create/redeem COSMOS platform. The COSMOS platform has been selected to handle the lifecycle of the bank’s ETF-related operations, from approving new creation…
Aviva moves to Clearwater platform
Aviva, the UK-based insurer, has gone live on the Clearwater Analytics platform for its investment accounting operations and regulatory reporting. Jonny Lee, finance & investment operations director at Aviva, said: “Being previously reliant on multiple legacy investment reporting models, we required a consolidated and reliable investment accounting and reporting solution. Clearwater’s single instance, multi-tenant architecture…
BTC hires Apex for energy fund
Apex has been appointed by BTC Investment Group to provide fund services to its Argento Energy Fund LP. The fund was launched by BTC in 2022 to manage investments in the U.S. onshore oil and gas industry. BTC is the family office of Benjamin Salinas, and is organised as a Mexico-based multi-strategy investment management fund,…
Amundi partners with Next Gate
Amundi’s Luxembourg operation is partnering with Next Gate Tech, a Luxembourg-based fintech specialising in data management and analytics solutions. Next Gate Tech’s SaaS platform will help Amundi Luxembourg to streamline data management and enhance its NAV oversight practices. The platform’s analytics and insights will enable Amundi to actively monitor NAV calculations, resulting in improved operational…