UK - 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 US$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 OEIC funds and 31 retail funds.

Chase Manhattan Trustees currently acts as trustee and depositary for some 471 funds with over £84bn in assets.