HSBC Securities Services (HSS) won new business with Schroders, consisting of eight investment trusts with total assets under management around 1.4 billion.
“We were looking for someone to take over our investment trust fund administration service, which we had always run in-house. HSBC Securities Services (HSS) was one of several proposals that we considered. We chose HSS because its all-round combination of fund service experience, investment trust expertise, integrated technology, flexibility and strong client service best suited our needs,” says Noel Fessey, Schroders’ head of European fund services.
“Our companies worked well from the very beginning of the engagement and our transition project was a great success. With HSS we have improved the quality of our investment trust services, increased operational gearing, migrated onto a modern integrated administration system, reduced key-man risk and restored our ability to respond quickly and reliably to clients’ needs. We are happy to have HSS as a key fund service partner in Europe,” he adds.
Ian Stephenson, head of HSS Institutional Fund Services, Europe says, “We recently won the R&M Fund Accounting and Administration Survey for the third year running. The survey result reinforced our position as No. 1 in the fund accounting and administration business, and our new business win with Schroders supports our achievements and proves that we are able to provide a fully rounded service to the full benefit of our clients.”