FUND ADMINISTRATION

BNY Mellon to help launch sustainable investment mutual fund

The asset manager will access BNY Mellon’s custody and fund services through its mutual fund turnkey software product, FundVantage Trust.

By Joe Parsons joe.parsons@strategic-i.com September 07, 2017 2:57 PM GMT

BNY Mellon will provide custody and fund administration services to a newly launched US sustainable investment fund.

Arabesque Systematic USA Fund, a global quantitative asset manager that integrates environmental, social and governance (ESG) information to US equities will use also use BNY Mellon for fund accounting and transfer agency.

The asset manager will access BNY Mellon’s custody and fund services through its mutual fund turnkey software product, FundVantage Trust, for the launch of the fund.

“Global managers such as Arabesque with distinctive investment strategies are looking to expand their distribution to the Us mutual fund marketplace” said Joel Weiss, president of FundVantage Trust.

Earlier this year BNY Mellon was appointed custodian and fund service provider to TOBAM, a Paris-based asset manager, to launch its first US mutual fund through FundVantage Trust.

BNY Mellon has increased investment into its mutual fund services, and last year went live with a real-time service to deliver net asset values (NAV) for mutual funds.