BNY Mellon Asset Servicing, a global provider of securities servicing, has been appointed by Innovest Kapitalanlagegesellschaft AG as global custodian for their full global fund range, including 76 different funds and sub-funds. Innovest’s global portfolio contains assets exceeding $4.4 billion, covering 58 different markets. In addition to global custody, BNY Mellon will be providing Innovest with an array of cash management and foreign exchange support services.
A subsidiary of Siemens Financial Services, Innovest is amongst Austria’s largest Funds-of-Funds Managers for institutional investors, with over $10 billion in assets under management. The foundation for appointment of BNY Mellon was laid when Innovest’s longstanding local depot bank, Allianz Investmentbank AG, converted global custody for all Austrian Allianz funds to BNY Mellon in June 2007.
“While we were certainly impressed by BNY Mellon’s market knowledge and global business approach, the deciding factor for us revolved around their renowned, high-touch approach to servicing their clients and the efficiencies demonstrated through Allianz Investmentbank, with whom they have successfully partnered for the last year,” says Johann Maurer from Innovest Kapitalanlage AG. “It was critical for us to ultimately identify a partner who understood the growing complexity of global institutional asset management and could deliver the full range of support that we require.”
“Innovest is a sophisticated investment manager with truly global servicing needs, and a prominent institution we are proud to add to our client base,” says Timothy F. Keaney, co-CEO of BNY Mellon Asset Servicing. “The investment of our organisation in building cutting edge technology and world class client service has ultimately been targeted to supporting clients of Innovest’s calibre. We look forward to servicing them in the future and facilitating their ongoing business growth.”