RBC wins US UCITS mandate 09 July 2015New York Reporter: Stephanie Palmer
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RBC Investor & Treasury Services has been appointed to act as custodian and fund administrator for Hamlin Capital Management’s Hamlin Equity UCITS Fund.
RBC will provide custody, fund administration, shareholder and trustee services, and financial reporting services for Hamlin, an investment advisor for high net worth individuals and institutions.
Mark Stitzer, founder and managing partner of Hamlin Capital Management said: “Given the depth and breadth of their experience and their commitment to client service, we are confident RBC is best positioned to support our growth.”
According to Kevin O’Neill, managing director for asset managers in North America at RBC Investor & Treasury Services, US asset managers account for 54 percent of assets under administration or custody in Ireland-domiciled funds, and 24 percent of Luxembourg-domiciled funds.
He said: “US fund managers are increasingly seeking growth outside of their traditional domestic markets, and are attracted by countries like Ireland and Luxembourg and their status as international hubs for globally distributed investment funds, notably UCITS.”
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