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.
JP Morgan has been servicing ETFs since 1996 and is especially proud of the Global ETF capability developed in the last two years, explains Fearghal Woods, Managing Director in Dublin. “This breadth of funds and assets has permitted JP Morgan to build a scalable and flexible offering for our clients in the US, and continue to expand that offering to service clients globally.” JP Morgan currently service 230 ETFs with assets in excess of USD525 billion in the US market.
RBC Investor & Treasury Services, part of Royal Bank of Canada has been appointed by Nordea Markets to provide custody, fund administration, transfer agency and related services for its UCITS Exchange Traded Funds (ETF) business listed in Sweden.
Scottish Widows has selected BlackRock to manage GBP30 billion of assets in index strategies, following the review by Scottish Widows and Lloyds Banking Group’s Wealth business of their asset management arrangements.