Liontrust has appointed the Bank of New York to provide a retail fund outsourcing service for its range of UK unit trusts. Collectively, the five funds, which invest in the UK stock market, amount to approximately 1.2 billion. The Bank
SEI Investments has announced the results of a research project into the European Private Banking Market, which demonstrates that Private Banks are in need of credible outsource providers to help them grow. The research demonstrates that Private Banks are under
Following decisions by the Investment Company Institutes Board of Governors, ICI Chairman Paul G. Haaga, Jr. announced that the ICI would urge the Securities and Exchange Commission to dramatically curtail the use of soft dollars by all investment advisers, including
SS&C Technologies, Inc. has announced its acquisition of Amicorp Group's fund administration line of business for $1.8 million in cash and the assumption of certain liabilities. The fund administration business, to be named SS&C Fund Services N.V., will be headquartered
The U.S. Securities and Exchange Commission on Thursday charged Heartland Advisors Inc. with fraud, the first time a bond fund has been implicated in the spreading scandal engulfing the $7 trillion mutual fund industry. Heartland mutual funds company was charged
More than half (55%) of consumers of retail financial services in the United Kingdom expect standards of service from banks and insurers to be higher than they are. The remaining 45% do not have lower demands they just have lower
Leading financial service groups in the Cayman Islands have joined together to create the Cayman Islands Financial Services Association (CIFSA) to add additional weight to other efforts in the Cayman Islands to maintain its reputation as a first class international
Abbey National, the UK banking group, was yesterday fined a record 2.3 million by the Financial Services Authority (FSA) for "serious" failures to comply with anti money laundering procedures. Abbey National was fined 2 million for breaches of the FSA's
Following HSBCs announcement on 2 August 2003 of the acquisition of 82.19 per cent of Asset Management Technology Korea Co., Ltd. (AM TeK), the Group has now increased its stake to 92.96 per cent in the fund administration company. HSBCs
New Star Investment Funds has launched a discretionary global portfolio management service with a minimum entry level of just 25,000, backed by an investment protection facility. The so called Galaxy Portfolio Service which New Star warns is more "discretionary style"