Liontrust has selected BNY Mellon to consolidate the outsourced fund services for its UK and Ireland fund ranges.
As part of the partnership, BNY Mellon will provide Liontrust with services including depositary, fund accounting, global custody, global risk solutions, middle office and transfer agency.
Ancillary services will cover securities lending, foreign exchange (FX) and cash management.
Daron Pearce, CEO, BNY Mellon EMEA Asset Servicing, said: “Liontrust has grown rapidly over the past eight years to reach £11.3 billion in assets under management (AUM) today by building its product offering and developing its distribution capability in the UK and internationally.”
“This has created a great platform for future expansion and we are delighted to have been chosen as the service partner to support Liontrust through these exciting times.”
He added: “This decision demonstrates how our commitment to providing investment managers with the most comprehensive service offering will enable Liontrust to focus on delivering value to its clients, investors and shareholders.”
Vinay Abrol, COO and CFO of Liontrust Asset Management, commented: “Our acquisition of Alliance Trust Investments last year resulted in a total of five asset servicing relationships across the Liontrust business.”
“It is clear that moving to a single partner will help us to achieve our strategic objectives. To accomplish this, we ran a thorough provider selection exercise, followed by a further period of detailed due diligence, with the support of Alpha Financial Markets Consulting.”
“We selected BNY Mellon because of its commitment to the relationship, its partnership approach and the quality of its service proposition.”
“We have been working with BNY Mellon since the decision and have been impressed with both its capabilities and professionalism. Liontrust is an ambitious and growing asset manager, and we are very pleased BNY Mellon will be supporting us over the coming years.”
