BNY Mellon Asset Servicing has been awarded a full administration mandate by Delaware Investments for its offshore UCITS III fund complex, Delaware Investments Global Funds plc.
Domiciled in Dublin, Delaware Investments Global Funds plc has launched five sub-funds since December. Following a rigorous selection procedure of European providers, BNY Mellon Asset Servicing has been appointed to be providing fund administration, custody and trustee services to Delaware Investments Global Funds plc.
The five equity sub-funds, which invest respectively in US Large Cap Growth, US Large Cap Value, Global Real Estate, Emerging Markets and Global Value, will initial target the private banking and fund of fund marketplace.
BNY Mellon Asset Servicing has acted as Delaware’s asset servicing provider since 2000 providing primarily custody services, but additionally securities lending, foreign exchange, cash management and client reporting services.
“We have a long-standing relationship with Mellon in the US and have been very impressed with the excellent service the team have delivered. After a thorough review of the market, we decided that BNY Mellon Asset Servicing was best-placed to partner our offshore debut due to their strong track record and understanding of the complex requirements in administering funds domiciled in Dublin,” says Chris McCarthy, co-head of sub-advisory sales and services, Delaware Investments.
“We are honoured to partner with Delaware Investments in launching this new UCITS III fund based in Dublin. Our appointment shows that we have the people and expertise all around the world to meet client’s different needs. Ireland remains a key area of focus for BNY Mellon Asset Servicing, and we will continue to grow our capability and presence in this jurisdiction to ensure we remain a leading provider of customised solutions to our rapidly growing client base,” adds Harley Murphy, head of Offshore Management, BNY Mellon Asset Servicing.