Mainstream launches custody services
Mainstream Fund Services has launched custody services, signing five new fund manager clients for total expected assets under custody of over $4.5 billion across 90 portfolios.
Mainstream had already operated as an incidental custody service for a number of years, but has now successfully raised enough capital to fund the regulatory capital required to operate as an eligible custodian.
Mainstream Asia-Pacific chief executive, Nick Happell, said the fund services provider offered a competitive bundled unit registry, fund administration and custody service that gives clients access to global markets across multiple asset classes.
“We are able to save fund managers and investors money on traditional custody service offerings due to our scale and simple pricing model,” he said.
Recommended for you
In the latest Meet the Manager profile, Money Management speaks with Michael Skinner, founder and managing director at Blackwattle Investment Partners.
Perpetual has seen AUM rise 6 per cent in the last quarter but the departure of a longstanding JOHCM fund manager led to outflows of $2.2 billion from his strategy.
Global fixed income fund Bentham Global Opportunities has been added to several major platforms, enabling it to be accessed more easily by financial advisers.
Following yesterday’s news about First Sentier Investors closing four investment teams, a second global asset manager has announced it is closing its only dedicated Australian fund.
