ETF and hedge fund technology specialist Truss Edge has released a major new upgrade for its technology platform which includes a number of improvements for asset managers.
State Street Corporation has announced that it has begun working with Putnam Investments on the servicing of the investment management firm’s first actively managed, semi-transparent ETF. Putnam leverages a proxy-based actively managed ETF model for the funds.
Grayscale Investments has announced that it has selected BNY Mellon as an asset servicing provider for Grayscale Bitcoin Trust (OTCQX: GBTC), the flagship product of Grayscale Investments LLC (Grayscale).
As managers continue to look for opportunity beyond their domestic borders, their need for service providers who provide a consistent experience across jurisdictions becomes more pronounced. Further, having that experience tailored to their unique needs is held in even higher esteem.
State Street Global Services: Best ETF Fund Administrator & Best European Smart Beta ETF Provider – Ciarán Fitzpatrick, head of ETF servicing for Europe for State Street, explains that the firm supports 67 per cent of the European market for ETFs, 84 per cent of those registered in Ireland and 47 per cent of those registered in Luxembourg, the two largest domiciles in Europe for ETFs.
BNY Mellon has been appointed by United States Commodity Funds (USCF) to provide ETF services — including serving as its custodian, fund accountant and administrator and transfer agent. The conversion was completed on 1 April.
State Street to provide ETF servicing to American Century Investments for first semi-transparent ETF suite
State Street Corporation has been appointed as ETF servicing agent and the first Authorised Participant Representative (APR) for American Century Investments’ new range of semi-transparent, actively managed ETFs.
Commenting on the new non-transparent or semi-transparent ETFs expected to launch soon in the US, John Alshefski, Senior Vice President and Managing Director and Head of SEI’s Traditional business within the Investment Manager Services division, explains that the firm is extending its USD75 billion Advisors’ Inner Circle (AIC) platform to incorporate ETFs within its turnkey series trust operational infrastructure
State Street Global Services: Best ETF Custody Provider & Best ETF Fund Administrator – Frank Koudelka (pictured), Senior Vice President – ETF Product Specialist at State Street Global Services, explains that globally the firm looks after 62 per cent of ETF assets, while in the US, from an administration point of view, they have close to 60 per cent of assets under management and 70 per cent in custody.
State Street dominates the European ETF Servicing industry, servicing some 66 per cent of the European industry from its bases in Ireland and Luxembourg.