HSBC Securities Services has taken the top spot on this year’s R&M Fund Accounting and Administration Survey with an overall score of 6.25.
The survey results showed that State Street maintained its second-place position, while RBC Investor & Treasury Services slid into fourth.
Northern Trust recorded a significant increase, taking its score to 6.04 and into third place.
The results also showed that BNP Paribas kept its spot at number five, while Societe Generale Securities Services dropped from fourth to sixth. J.P. Morgan remained at the bottom of the table.
The survey, which was conducted between June and August, saw responses from 95 fund managers on a total of eight service providers.
One UK-based respondent said: “The overall quality of the fund accounting and administration process has continued to improve over the past several years. HSBC has been our record keeper and custodian for 10 years and the quality of the service we receive has improved as time goes by.”
A more detailed breakdown and analysis of the R&M Fund Accounting and Administration Survey 2019 will be published in Asset Servicing Times on 16 October.
