Chase picked by Fidelity
Fidelity has appointed Chase Manhattan Trustees, the trustee and depositary arm of J P Morgan Investor Services, to provide trustee, depositary and custody services for its UK pooled fund business totalling $28.5bn (e31bn).
“The decision reflects our desire to ensure maximum efficiencies for our clients. We are particularly impressed with Chase’s commitment to technology and their focus on pro-active client service,” says Simon Haslam, a managing director at Fidelity.
The UK pooled fund assets include Fidelity’s 16 UK institutional open-ended investment company (OEIC) funds and 31 retail funds.
Chase Manhattan Trustees currently acts as trustee and depositary for some 471 funds with over £84bn in assets.