Mellon Financial Corporation has been awarded the full administration service mandate for River and Mercantile Asset Management and will support the new fund management boutique from its launch on 20 November.
Mellon will provide a full range of services to River & Mercantile. Global custody and depositary services will be provided through Mellon’s joint venture, ABN AMRO Mellon Global Securities Services B.V. Fund accounting, performance measurement, fund administration and transfer agency will be provided by Mellon’s asset servicing division.
River and Mercantile is initially offering two funds – UK Equity High Alpha and UK Smaller Companies and anticipates launching several additional funds over the course of 2007/08. In addition to the OEICS, River and Mercantile intends to offer investment management for a range of segregated mandates, to which Mellon will provide a range of administration services.
“River and Mercantile’s mandate is a tremendously important win for us as it underlines the strength of our combined asset servicing offering and the importance of our joint venture partnership, ABN AMRO Mellon, in securing full administration mandates of this nature,” says Nadine Chakar, Executive Vice President at Mellon and Chief Executive Officer of ABN AMRO Mellon. “We are honoured to be partnering with River and Mercantile at this exciting stage in the company’s development and look forward to working alongside the team as the business rapidly accelerates over the coming months.”
Julian Cripps, River and Mercantile COO, says the firm selected Mellon to provide a full range of administration and custody services “because they demonstrated a thorough understanding of our business needs, and have the people, technology and experience to help us make the launch of River and Mercantile a success.”