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Fund managers encounter custodian banks in two main guises. If they are managing funds on behalf of an institutional investor, such as a pension fund, they will have to ensure stocks and cash are delivered to (or retrieved from) the custodian appointed by their client. But many also manage in-house institutional or retail funds, and appoint custodians to look after assets and fund administrators to value them directly. Fund managers which make direct appointments use Thomas Murray to select providers, and monitor their performance. In some jurisdictions, regulators oblige fund managers to monitor third party service providers, and post-trade risks such as holding assets in central securities depositories (CSDs). Thomas Murray products and services help fund managers fulfil these commercial, fiduciary and regulatory obligations.
Benefits:
- Complements the asset managers' own in-house custody management process
- Provides asset managers with an independent and objective assessment of custody arrangements
- Monitors and benchmarks third-party service providers
- Facilitates compliance with regulations where the on-going monitoring of third party service providers is required
- Facilitates compliance with regulations where on-going monitoring of post trade risks is required
- Ensures the selection or retention of "best fit" custody arrangements
- Highlights opportunities to enhance asset safety
- Identifies custody related risks
- Measure on-going quality of custody service
Clients:
ABN AMRO Asset Management, AIC Funds, Artemis Investment Management, Barings Asset Management, Cogent, Dynamic Mutual Funds, Folksam Asset Management, Gartmore, Hermes, INVESCO, Lazard Asset Management, M&G Investments, Merrill Lynch Investment Management, Rothschild Asset Management, Saxo Bank, Schroders Investment Management Ltd, Swedbank, Threadneedle Investments, UBS Global Asset Management.
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