The Bank of New York (Luxembourg) S.A. has been appointed by William Blair & Company, L.L.C., a US investment firm with more than $30 billion of assets under management, to provide fund administration services in support its first mutual fund domiciled in Luxembourg. The fund is aimed at European investors.
The Bank of New York will provide William Blair & Company with fund administration services that include depository banking, fund accounting, and transfer agency. This will allow European investors to have access to William Blair & Company’s small-midcap growth product.
William Blair & Company’s administration will be managed on Rufus GTA, The Bank of New York’s recently upgraded retail funds dealing and registration software.
“We have experienced an increased demand in Luxembourg for third party administration services, particularly in light of UCITS III and we anticipate that this trend will continue,” says Tim Keaney, executive vice president and Head of Europe at The Bank of New York. “To work with a well respected and forward focused fund manager such as William Blair & Company confirms our fund administration leadership in Europe.”
Marco Hanig, principal and leader of the mutual funds business at William Blair & Company, describes Bank of New York as a “business partner” and “an organization committed to client service” that has the experience and resources guide the entry of the firm into the European market. “It is important for us to work with a player capable of understanding the specific demands we face as a business,” he says. “The global experience of The Bank of New York will provide us with a solid foundation as strategic growth opportunities arise.”