Swiss & Global Asset Management has changed the investment services provider for the majority of its funds domiciled in Switzerland and Luxembourg, which have
$70 billion (€56 billion) of assets under management.
The asset manager has expanded it relationship with State Street, which means RBC Investor & Treasury Services no longer provides services for the range.
The funds covered include a publicly available mutual fund family for private bank Julius Baer, which Swiss & Global separated from in 2009 but retained an exclusive licence to manage the funds.
State Street will provide custody, fund accounting and administration, asset pooling, securities lending, foreign exchange, share class hedging and transfer agency services.
Martin Jufer, member of the group management board of GAM Holding, which owns Swiss & Global, and chief operating officer for Swiss & Global, sais: “Over the past two years Swiss & Global has built a partnership with State Street as they provided servicing solutions for a component of our investment funds.”
Peter O’Neill, head of State Street in Europe, Middle East and Africa, says the ability for asset managers to understand what drives investment performance, and report on it more comprehensively than ever before, is “critical” at a time when investors and regulators are highlighting risk and transparency.
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