03 October 2017
Reporter: Theo Andrew

RBC tops R&M fund admin survey

RBC Investor & Treasury Services has topped the table as the best overall fund accounting and administration provider, according to R&M survey results.

The Canadian asset servicing provider held on to the top spot, achieving an overall score of 6.21 out of seven, with its services having “met or succeeded expectations”, while HSBC Securities Services secured second place with a score of 6.06.

Societe Generale Securities Services, which moved from fifth place up to third, was the only service provider to achieve a positive change, increasing its score to 5.86, up from 5.65.

Both J.P. Morgan (5.72) and Northern Trust (5.65) slipped a place, to fourth and fifth, respectively, as their scores dipped by 0.26 and 0.26, respectively.

The R&M Investor Services survey asked asset managers and other financial services clients to score their fund accounting and administration providers out of seven.

Regionally, HSBC Security Services topped the Ireland and the UK rankings, moving up from from second place in both tables, overtaking RBC and State Street, respectively.

RBC, praised by respondents on its “timely and accurate accounting” as well as its “broad knowledge of business”, topped both the Luxembourg and Continental Europe tables with a score of 6.64, a full point or more ahead of Societe Generale, which came in second place in both regions.

Important elements that servicers were marked negatively on included a lack of flexibility and accuracy, and delays in transaction processing.

A more detailed breakdown and analysis of the R&M Core Fund Accounting and Administration Survey 2017 will be published in Asset Servicing Times on 18 October.

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SimCorp selected by German pension fund
19 February 2018 | Berlin | Reporter: Jenna Lomax
SimCorp Dimension has been selected by Soka-Bau, a German pension fund, to manage its new front to back office investment management platform
Sino selects PFS-PAXUS fund administration software
16 February 2018 | Hong Kong | Reporter: Jenna Lomax
PFS-PAXUS offers a back-office fund accounting, portfolio valuation, fund pricing and transfer agency administrative solution on a single, fully integrated system
Blue Point Capital partners with PEF Services for fund administration
15 February 2018 | New Jersey | Reporter: Jenna Lomax
PEF Services will provide fund administration services to Blue Point to scale operations and support the firm’s growth
NSD offers clients opportunity to settle transactions via ICSDs
14 February 2018 | Moscow | Reporter: Jenna Lomax
The National Settlement Depository, Russia's central securities depository, has launched a new service to open individual accounts with international clearing systems
Maitland chosen as fund administrator for two Guernsey-domiciled funds
06 February 2018 | St Peter Port | Reporter: Jenna Lomax
Maitland will provide both firms with fund administration and company secretarial services
BNP Paribas reports ‘excellent business drive’ in 2017
06 February 2018 | London | Reporter: Jenna Lomax
BNP Paribas’s end-of-year report showed that 2017 was a year of strong growth in assets under custody and assets under administration
Havelock London selects Link Asset Services as fund manager
01 February 2018 | London | Reporter: Becky Butcher
Link’s appointment as authorised fund manager follows a series of new wins for Link’s fund solutions team
More fund services news