While J.P. Morgan recently lost a large mandate in Finland, the bank has won three mandates over the last three-to-four months in Luxembourg, for funds totaling approximately $31 billion in AUM.
Though the three mandates came at a similar time, the wins were unrelated. One mandate includes the reappointment as global custodian and fund administrator for Morgan Stanley Investment Management’s Luxembourg fund range, for which J.P. Morgan has been serving in this role for around 15 years.
Santander Asset Management has also appointed J.P. Morgan as depositary bank and fund administrator for its Luxembourg fund ranges, while U.K.-based fund manager Jupiter Group appointed J.P. Morgan for the same roles for its Luxembourg SICAVs.
Outside Luxembourg, J.P. Morgan also won a mandate to provide custody and fund accounting services to Jupiter’s U.K. Investment Trusts and pension funds.
J.P. Morgan Wins Three Mandates in Luxembourg
While J.P. Morgan recently lost a large mandate in Finland, the bank has won three mandates over the last three-to-four months in Luxembourg, for funds totaling approximately $31 billion in AUM.