BNY Mellon Asset Servicing has been selected by UOB Asset Management (UOBAM) as the trustee, fund administrator and custodian for its newly launched Cayman-domiciled United Asia Bond Multi Currency Fund.
The new fund is part of UOBAMs United Multi Asset Strategy Fund and as of 31 March 2010, had approaching $50 million in assets under management.
UOBAM is headquartered in Singapore, with regional business and investment offices in Malaysia, Thailand, Brunei, Taiwan and Japan. The asset manager also uses a wide range of trustees and administrators for its funds, with BNP Paribas, Northern Trust and HSBC all current or previous custodians and administrators.
We chose BNY Mellon as our fund administrator as they are highly regarded in the industry for having a robust global infrastructure which can support our administration needs in Asia as well as those of our global investor base, said Masashi Ohmatsu, Senior Director & CEO at UOBAM Japan. The enhanced functionality and efficiencies which BNY Mellons appointment brings will enable us to deliver even greater value to our clients.