Global custodian Northen Trust has been appointed as the asset servicer for Invesco’s newest range of Irish-domiciled index tracking mutual funds.
The fund range, Invesco Markets V ICAV, will adopt Invesco’s swap-based approach to index replication, relying on investment platforms and other institutional channels, a model that has previously been applied to Invesco’s ETF range.
Under the terms of the mandate, Northern Trust will provide administration, custody and depositary services to Invesco.
The deal extends an existing relationship between Invesco and Northern Trust for the servicing of the former’s synthetic ETF platform as well as its digital assets platform Invesco Digital Markets.
“As we continue to expand our product offering to meet evolving investor requirements, we want to work with service providers able to support innovative structures at scale,” said Gary Buxton, head of Product, EMEA at Invesco.
“For this new range, we have delivered a scalable end-to-end solution – an operating model that integrates with Invesco’s mutual fund investor servicing infrastructure while establishing connectivity to a network of investor platforms – closely supporting its distribution plans and growth strategy,” said Melíosa O’Caoimh, country head, Ireland, at Northern Trust.
