The results of the Global Custodian Mutual Fund Administration Survey, now in its ninth year, are released today. Response levels maintained the 50% increase seen in 2009, with 471 responses received and 436 authenticated for inclusion in the survey.
While information was received on behalf of 16 providers, 11 received enough to be rated: Alps Fund Services, BNY Mellon, Brown Brothers Harriman, CACEIS, Citi, HSBC Securities Services, J.P. Morgan, PNC Global Investment Servicing, RBC Dexia Investor Services, State Street, U.S. Bancorp Fund Services. There was sufficient data to comment on a further two: BNP Paribas Securities Services and Northern Trust.
Respondents graded the quality of service from their administrators on a scale of 1 to 7, where 7 is excellent; 6, very good; 5, good; 4, satisfactory; 3, weak; 2, very weak; and 1, unacceptable. Scores were then weighted for the size and sophistication of the respondent and for performance on questions named as important in each service area by all respondents.
These service areas are Client Service and Relationship Management, Value, Fund Accounting and Valuations, Transfer Agency, Distribution Support, Portfolio Servicing, Fund Reporting, and Compliance. Providers are rated as Top Rated or Commended for overall performance in the survey across 12 ratings categories that include four assets-under-management categories (Less Than $100 Million, $100 Million-$ 1 Billion, $1-$5 Billion and More Than $5 Billion), four regions based on the location of the client (North America, Europe, Asia-Pacific and Middle East) and four investment strategy categories (Equity, Fixed Income, Fund Of Funds and Other).
League tables are available here and the full results of the Mutual Fund Administration survey, and a full explanatory methodology, can be accessed by subscribers here.
Full research reports are available from Muzaffar Karabaev, Director of Research at Global Custodian.
Contacts:
Dominic Hobson, Editor in Chief, at dhobson@www.globalcustodian.com or +44 (0) 207 228 3013
Allison Cayse, Surveys Editor, at acayse@www.globalcustodian.com or +1 513 574 0220
Muzaffar Karabaev, Survey Reprints/Research Enquiries, at mkarabaev@www.globalcustodian.com or +44 (0) 207 148 4289