RBC Investor and Treasury Services (RBC I&TS) has been named the top global fund accounting and administration provider in R&M Surveys’ (R&M’s) 2022 Fund Accounting and Administration Survey.
In second place was HSBC Securities Services, falling from their top spot last year. Third place went to Northern Trust, maintaining its 2021 position.
RBC I&TS was the only organisation to show an improvement in its overall score, with one survey participant reasoning: “RBC strives for perfection and consistently achieves it”.
R&M’s Richard Hogsflesh attributed the general dip in scores to “turbulent markets, ever increasing regulation, shifting investment strategies and of course the ongoing effects of the pandemic”.
In the UK, HSBC, JP Morgan and Northern Trust led the market. HSBC held its first place position, while Northern Trust made a significant improvement from their seventh place in the tables last year.
HSBC “understands the client's business and always provides high quality advice,” one commenter said.
R&M’s global survey was conducted between June and September 2022. 70 fund managers responded.
Responses mostly came from the UK, Continental Europe and the US.
