Industry body has called for the UK fund market to construct a new fund vehicle that can compete with the dominance of UCITS and AIF structures in Asia-Pacific.
The mandate will include global custody and fund administration services for Storebrand's AIF and UCITS Luxembourg-domiciled funds.
Luxembourg has emerged as an attractive destination for Asian asset managers that seek new fund channels for their products.
BNY Mellon will provide custody and fund accounting services for Goldman Sachs Asset Management's first European ETF.
A growing number of European regulators and investors have expressed concerns about the liquidity risk management practices at daily dealing UCITS funds.
The UK FCA is set to open an assessment of authorised corporate directors following the fallout of the Neil Woodford fund affair.
The new dealing services will enable distribution of Irish UCITS ETFs to the Asia-Pacific and Latin America regions.
Depositaries role of fund oversight could prove to be a useful boost to the ESG investment process.
Northern Trust’s extends deal with Hermes to cover FX currency management services for its Irish fund range.
The laissez-faire approach to UCITS principles has riled market regulators following the recent saga with Neil Woodford's flagship fund, which could have long-term consequences on the funds industry.