RBC Dexia Investor Services has been selected by McLean Budden to provide custody, fund administration and transfer agent for a UCITS fund to be based in Ireland.
McLean Budden has assets of over C$35 billion under management, with foreign investment totalling C$2.5 billion.
For us, launching a UCITS fund is about matching the strength of McLean Buddens solid reputation in the investment community with the global recognition of the stability and safety of the Canadian financial system, said Roger Beauchemin, President and CEO, McLean Budden. McLean Budden has a longstanding relationship with RBC Dexia and we are confident that their significant investment in distribution support and expertise in setting up and servicing UCITS structures will ensure we can meet the burgeoning demand for UCITS products around the globe.
Innovation is not just about fund development, its about innovative fund distribution and using investment vehicles like UCITS to penetrate the global market effectively and efficiently, said John Lockbaum, Managing Director, Canada for RBC Dexia Investor Services. The UCITS fund structure will act as a global gateway for McLean Budden to key markets like Europe and Asia, where there is an appetite for well-regulated funds that offer access to international markets.