RBC Global Services, Institutional & Investor Services (IIS) today announced that it has been awarded a US$2.75 billion global custody mandate by Edinburgh Fund Managers plc (EFM), one of Scotland’s leading investment houses. RBC Global Services will be responsible for providing global custody for EFM’s International Investment Trusts, Unit Trusts and OEICs.
“We are extremely pleased that Edinburgh Fund Managers has selected RBC Global Services as their global custodian,” said Jos Placido, Senior Vice President, RBC Global Services IIS. “The awarding of this mandate is proof that our strategic business approach continues to resonate with clients. At the core of that approach is a simple, but powerful objective – to deliver tailored solutions that create value for our clients.”
EFM has assets under management of 7.9 billion and has recently made two significant acquisitions: Northern Venture Managers Limited in June 2000 and Portfolio Fund Management Limited in July 2001.
“Edinburgh Fund Managers conducted a very detailed and thorough review of global custodians in order to find the kind of provider that would enable us to come up with innovative approaches to investment solutions for a global client base,” said Margaret Lees, Divisional Director, Edinburgh Fund Managers. “Throughout the entire process, we were particularly impressed with the commitment we saw from the RBC Global Services team. Their ability to understand our current and future business objectives was a critical factor in our final selection.”
RBC Global Services is Canada’s largest custodian and a leading provider of securities services worldwide with client assets under administration of $1.3 trillion.