J.P. Morgan gains new custody mandate 31 August 2021Denmark Reporter: Maddie Saghir
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J.P. Morgan has been appointed by Danske Invest Funds, managed by Danske Invest Management, to provide custody and depository services.
Under the new mandate, J.P. Morgan will provide custody and depositary services for $70 billion worth of funds, including equity, fixed income and alternative investments, which number over 140 funds.
After a 12-month request for proposal process (RFP), J.P. Morgan was awarded the business this month with a view to transitioning the assets by the end of Q1 2022.
According to J.P. Morgan, the new mandate will reinforce its position as the leading securities services provider for institutional clients and depositary for Danish mutual funds.
Morten Rasten, executive director at Danske Invest Management, comments: “J.P. Morgan is one of the largest and most experienced providers of custody and fund services in the market.”
Rasten explains: “It was a very competitive RFP process, but J.P. Morgan’s global franchise, combined with a long history of service provision in Denmark, helped us decide they were the perfect partner for Danske Invest Funds. Their strong platform and people will allow us to focus on delivering first-class fund products for our investors.”
Allan Nedergaard, Nordic head of platform sales at J.P. Morgan, adds: “J.P. Morgan is delighted to begin our partnership with Danske Invest Funds in Denmark and support them on their journey to grow their investment offering and continue delivering for their clients.”
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