Skandia has chosen The Bank of New York to provide administration, accounting and transfer agency services for its MultiManager Funds business
The Bank of New York - through its European Fund Services Group - is supporting Skandia’s MultiManager Funds using its proprietary Rufus transfer agency platform, which supports UK and European fund administration services.
Jim Roberts, investment director, Skandia, says: “After an intensive review, we chose The Bank of New York as our preferred service provider to work with us on developing our collective investment scheme. We are very impressed with the strength of The Bank of New York’s system and process control as well as their approach to European fund administration."
Other recent significant new mandates for The Bank of New York include Barclays Global Investors’ new retail operation, the Belgian domiciled mutual fund, AXA B Fund, and also Euro SPDR, the exchange-traded fund family sponsored by Credit Lyonnais Asset Management.