IRELAND – Brown Brothers Harriman (BBH) has been appointed global subcustodian for the SEI Global Master Fund, with assets over $1.4bn (€1.65bn) - amassed mainly in South Africa and the UK, its first areas of distribution.
In July, there are plans to launch new umbrellas of the SEI fund, which is a series of manager-of-manager funds using over 35 investment managers, in the UK, continental Europe and Japan.
BBH has seen its assets under custody grow organically, not through asset acquisitions, from $580bn to $900bn over the last 18 months.
Says Patricia Lewers, European product manager at SEI: “BBH continues to attain a high level of efficiency and they will become a key player in our efforts to meet the challenges of the global capital markets.”
Jeffrey R. Holland, managing director of BBH in Dublin comments that the appointment is an “affirmation of the success of BBH’s client focused strategy”.