Asset management firm Arabesque has selected BNY Mellon and FundVantage Trust to support the distribution of its new Arabesque Systematic USA Fund.
BNY Mellon will provide fund accounting and administration for the mutual fund, while FundVantage Trust will provide custody services.
Arabesque uses machine learning and big data to assess the sustainability and performance of companies. Its new fund applies its investment processes to all publicly-listed US equities.
FundVantage Trust specialises in helping investment managers to launch and operate US mutual funds.
Brace Young, partner at Arabesque, commented: “The FundVantage infrastructure allows Arabesque the ability to launch funds with a much lower cost structure.”
He added: “This strengthens our ability to generate competitive returns for our investors, and meet the growing demand for quantitative ESG-based products in the market.”
Dorothy McKeown, managing director of BNY Mellon Asset Servicing, said: “The FundVantage Trust provides world class mutual fund servicing that frees our clients to focus on their core mission of portfolio management. We look forward to delivering this capability for Arabesque as they grow in the US.”
Joel Weiss, president of FundVantage Trust, commented: “Global managers, such as Arabesque, with distinctive investment strategies are looking to expand their distribution to the US mutual fund marketplace.”
He added: “The FundVantage Trust series trust solution has demonstrated that we have the right expertise and operational support to help guide these managers to successfully launch and grow their mutual fund business.”
