BNY Mellon wins Taiwan custody mandate

BNYM_flagThe largest securities investment trust in Taiwan, Fuh Hwa Securities Investment Trust, with around US$6bn in assets under management has appointed BNY Mellon Asset Servicing as global custodian by for its new mutual fund, Fuh Hwa Global Commodity Fund, launched in April this year. 

Anne Mao, associate vice president at Fuh Hwa, said: “We chose BNY Mellon not only because of their sophisticated custody platform, but because it was vital to choose a partner who has a strong balance sheet and high credit ratings to ensure the safekeeping of our investment assets. BNY Mellon was able to demonstrate all of these qualities and, coupled with their reputation for client service, this made them the ideal partner to provide the services we need.”

Asia has been on the radar of investment managers and service providers alike.

“The underlying fundamentals of Asia appear relatively strong and the consensus is that Asia’s long term growth advantage will lead to the region increasingly becoming the engine of the world’s growth,” said Chong Jin Leow, head of asia, BNY Mellon Asset Servicing.  “The rising number of investment vehicles is, in turn, fuelling the need for services from custodians who can provide strong infrastructures which are transparent, cost-effective, and help institutions manage risk in the global markets.”

Angèle Spiteri Paris, Deputy Editor
©2010 funds europe

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