Mainstream launches custody services
Mainstream Fund Services has launched custody services, signing five new fund manager clients for total expected assets under custody of over $4.5 billion across 90 portfolios.
Mainstream had already operated as an incidental custody service for a number of years, but has now successfully raised enough capital to fund the regulatory capital required to operate as an eligible custodian.
Mainstream Asia-Pacific chief executive, Nick Happell, said the fund services provider offered a competitive bundled unit registry, fund administration and custody service that gives clients access to global markets across multiple asset classes.
“We are able to save fund managers and investors money on traditional custody service offerings due to our scale and simple pricing model,” he said.
AUTHOR
Anastasia Santoreneos
Recommended for you
Some 42 per cent of CEOs say they are actively reinventing their business to stay relevant in the next decade, with consumer services the most common choice for asset and wealth managers.
Former Ophir Asset Management chief executive, George Chirakis, has joined private equity manager Scarcity Partners, while the asset manager has appointed a replacement from Macquarie.
Australian Unity has appointed a fund manager for its Healthcare Property Trust, joining from Centuria Healthcare, as it restructures the product with a series of senior appointments.
Financial advisers nervous about the liquidity of private markets funds for their retail clients are the target of fund managers launching semi-liquid products which offer greater flexibility and redemptions.
