Brown Brothers Harriman (BBH) and XACT Fonder (XACT), a wholly owned subsidiary of Svenska Handelsbanken (Handelsbanken), has announced that BBH has been selected to provide global custody, accounting, administration and primary market transfer agency for the newly launched XACT ETFs.
The XACT ETF platform is an open-ended collective investment company (SICAV) established under the laws of the Grand-Duchy of Luxembourg with an umbrella structure comprising of different sub-funds and classes. Each sub-fund is an ETF and is listed for trading on NasdaqOMX Stockholm. Shares of each ETF are bought and sold in the secondary market in the same manner as ordinary shares of a listed trading company.
“BBH enjoys a longstanding relationship with Handelsbanken and we are thrilled to be partnering with XACT to support this important Luxembourg ETF platform,” said Shawn McNinch, Global Head of ETF Services at BBH. “These ETFs represent a close collaboration between BBH and XACT from product inception to successful launch.”
“I am delighted to work together with BBH on our new ETF structure in Luxembourg. This will enable us to maintain our position as the leading Nordic ETF provider,” said Henrik Norén, Managing Director, XACT.
BBH has an established expertise in domestic and international equity, fixed income, leveraged/inverse, and commodity ETFs. The Firm is one of the largest ETF custodians in the US1, working with eleven ETF issuers globally, including three out of the top five US ETF sponsors2, representing over 80 exchange traded vehicles. BBH’s dedicated ETF team provides consultative services and assists in managing new product launches for both registered and non-registered exchange traded funds and products.
