State Street International Financial Data Services (IFDS) Canada have been appointed by PIMCO to provide a range of investment services for PIMCO’s newly launched Canadian retail funds.
State Street will provide fund accounting, fund administration, custody and trustee services and IFDS will provide transfer agency and unit-holder recordkeeping services for the eight new funds. Founded in 1971, PIMCO is a global investment solutions provider with more than 1,300 dedicated professionals in 10 countries focused on managing risks and delivering returns to clients.
“Our retail funds leverage current institutional mandates and provide Canadian investors with solutions that demonstrate PIMCO’s thought leadership,” said Stuart Graham, president, PIMCO Canada. “After a competitive RFP process, we appointed State Street and IFDS based on their ability to provide a specialised, technologically advanced and efficient servicing solution that could support this expansion of our business.”
“We are pleased to be partnering with PIMCO to launch its new funds and to help grow its business in Canada,” said Kevin Drynan, senior vice president and managing director of State Street’s investment servicing business in Canada. “As the demand for asset servicing continues to grow, we remain focused on partnering with our clients as they expand in the region. State Street is consistently chosen by clients based on the strength of our technology and the customisation that we offer.”
“PIMCO's Canadian retail business is another key strategic business win for IFDS and we look forward to continuing our long-term partnership," says Debralee Goldberg, president and CEO of IFDS (Canada) Ltd. "We are excited to be deepening our relationship with PIMCO, as we expand their business in Canada with our market-leading services.”
