[ N E W S R O U N D - U P ]
NEWS ROUND-UP
˜ Asia-based insurance giant AIA Group has selected BNY and BlackRock to provide a front-to-back investment platform , supporting the firm ’ s long-term investment programme .
˜ State Street is partnering with Swissbased fintech Taurus to boost its digital asset capabilities , as the custodian moves to replace its previous partner Copper which it cut ties with over a year ago .
˜ BNY has entered into a definitive agreement to acquire Archer , a technologyenabled service provider of managed account solutions to the asset management industry .
˜ Clearstream , DekaBank and DZ Bank have jointly issued two tokenised € 5 million bonds using distributed-ledger technology ( DLT ).
˜ Northern Trust has been appointed by Valverde Investment Partners to provide custody , fund administration , foreign exchange and cash management services for its newly formed Variable Capital Company ( VCC ) fund , along with its sub-fund , ASEAN + Fund ( VAPF ). In addition , the custodian has also won mandates from Legal & General to provide depositary and fund administration services for its new private markets access fund ; Lancashire Country Pension Fund to provide custody and performance measurement services ; and Saudi Arabia ’ s National Development Fund ( NDF ) as custodian for its 60 billion Saudi riyals ($ 16 billion ) of assets under management , less than a year after the asset servicer revealed Riyadh as its new Middle East headquarters .
˜ State Street has secured a mandate to serve as custodian bank for the multibilliondollar Swiss social security funds for old-age and survivors ' insurance , invalidity insurance and the loss of earnings compensation scheme , previously managed by UBS . The custodian has also secured a mandate with Galapagos Global Capital Management , a US-based hedge fund manager , to provide a range of services to its hedge funds Galápagos Macro Master LP . and Galápagos Macro Cayman . Other mandates this quarter include Challenger Limited , a publicly listed Australian investment management firm and Coller Capital , a UK-based specialist investor in the secondary markets for private capital .
˜ JP Morgan has been selected by AUD30 billion Australian super fund , Spirit Super , to provide global custody and fund administration services .
˜ HSBC has led asset servicing for the cross-listing of two Saudi Arabian ETFs for Chinese investors . In partnership with China Merchants Bank , HSBC will serve as the overseas custodian for the Huatai- PineBridge CSOP Saudi ETF , one of the Feeder ETFs .
˜ Euroclear has acquired a strategic stake of 49 % in Inversis , a provider of global investment technology solutions and outsourced financial services and will become the full owner of the firm by year-end 2027 . The ICSD has also signed an agreement with asset management giant BlackRock to distribute its private market funds on the FundsPlace fund distribution platform ; and been mandated by China Construction Bank ( Asia ) to integrate its FundsPlace solution into the bank ' s new Investment Fund services platform .
˜ Citi ’ s securities services unit has been selected by the Taiwan Depository & Clearing Corporation to provide global custody services as the Asian infrastructure implements a new centralised custody platform in the market .
˜ State Street has rolled out Shariahcompliant global custody and fund administration services , in response to growing demand for Islamic finance .
˜ JP Morgan has successfully completed the transition of A $ 13.8 billion ($ 9.39 billion ) industry super fund , Vision Super .
˜ BNP Paribas securities services has been appointed by the Versorgungswerk der Zahnärztekammer Nordrhein ( VZN ) as its new custodian , following a comprehensive selection process . The bank has also won mandates from The University of Sydney Endowment Fund to provide custody and fund administration services ; and a reappointment as depositary bank for PAI Partners ’ eighth flagship fund , PAI Partners VIII , representing € 7.1 billion .
˜ Societe Generale Securities Services ( SGSS ) Luxembourg has been appointed as custodian , depositary bank , fund administrator , transfer agent and local representative agent by Swiss Life Asset Managers for the launch of its first ELTIF 2.0 structure .
Fall 2024 globalcustodian . com 7