The Universal-Investment group, a fund services provider, has taken over management company (ManCo) services for Univest pooled funds in Luxembourg.
Univest pooled funds are set up by Univest Company, Unilever’s in-house investment services company which supports Unilever pension plans worldwide.
According to the group, the assets under management for the mandate are approximately €11 billion, and the fund setup of both UCITS and alternative investment funds has been onboarded on schedule.
While Universal-Investment group has taken control of risk management and portfolio management, Northern Trust continues to provide custody and fund administration services for Univest.
Sean O’Driscoll, country head of Universal-Investment Luxembourg, said: “I am pleased that we have been able to successfully implement this mandate within the agreed timeframe, despite the difficult market circumstances since February this year. It was a great team effort and I would like to thank everyone with whom we collaborated.”
Katja Müller, chief customer officer of the Universal-Investment group, cited: “Providing ManCo services for Univest is another milestone in our quest to become the leading European funds service platform for all asset classes. We intend to further build on this momentum.”
Rianne Lemsom, managing director at Univest Company, commented: “We are pleased the transition was completed as planned and thank all parties involved for their hard work. We look forward to working with Universal-Investment as the new ManCo for our Univest pooled funds.”
