PKB Privatbank AG, a Swiss fund manager, has appointed RBC Dexia Investor Services to furnish it with legal establishment, fund administration, compliance, transfer agency and custodian services for their new fund of hedge funds.
There is a longstanding relationship between RBC Dexia Investor Services and PKB Privatbank, which stretches back to 1997 through Dexia Fund Services and its TA arm, First European Transfer Agent (FETA).
Dexia and FETA supplied PKB Privatbank with fund administration, transfer agency, compliance, custodian and securities lending services for the Planetarium Fund, a mainstream fund under UCITS III Part I, with an umbrella fund structure and 12 sub-funds totalling EUR467 million in total net assets as of 31 December 2005.
PKB Privatbank AG’s new fund of hedge funds is to be distributed in Switzerland and Luxembourg, beginning in the second quarter of 2006. It is aimed at retail and institutional investors.