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.
AUTHOR
Anastasia Santoreneos
Recommended for you
Evidentia Group has announced the appointment of a chief risk and operating officer, rounding out its executive leadership team after a slew of hires last month.
Family office Lederer Group has progressed its takeover bid for the Elanor Commercial Property Fund, lodging a bidder’s statement with ASIC as it says the fund has been “unable to agree” on negotiation terms.
Magellan Financial Group is keen to enact further strategic expansions with income from strategic partnerships tripling to $31.1 million from the addition of Vinva during FY25.
Outflows have doubled in the property and infrastructure space to $1.3 billion with advisers instead favouring private markets as Morningstar data finds active property funds are struggling to outperform.
