BNY Mellon appointed by Standard Life 21 February 2011London Reporter: Ben Wilkie
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BNY Mellon Asset Servicing has been appointed to provide fund accounting, transfer agency, custody and corporate & domiciliary services to Standard Life Investments Global SICAV.
Domiciled in Luxembourg, the SICAV has assets under management in excess of EUR8 billion across 20 sub-funds and is viewed by Standard Life Investments as its key vehicle for achieving increased global distribution.
Mike Tumilty, director of operations at Standard Life Investments, said: "By the end of the selection process it became clear that BNY Mellon had proven capability in securities servicing. I'm therefore pleased that we've appointed them to provide the necessary support to what is an area of increasing strategic importance to Standard Life Investments. We already work with BNY Mellon in key parts of our UK business and this agreement will help cement the long-standing relationship between both our organisations."
Ross Whitehill, head of offshore at BNY Mellon Asset Servicing, said: "Our flexibility and ability to offer a robust set of solutions were central to Standard Life Investments' decision to select us as their provider. Our introduction of share class hedging for the SICAV and Global Distribution Support capabilities to support SLI's planned expansion in the Asia-Pacific region were key elements of our proposition to Standard Life Investments. This appointment underlines our status within Luxembourg as the provider of choice for investment managers looking for a scaleable and nimble partner who can help them execute their growth strategy."
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