Custody Risk European Awards 2013: Fund Administrator of the Year – Luxembourg

Judges were cognisant of RBC Investor & Treasury Services’ (RBC I&TS) dominance in the Luxembourg market and its reputation for reliable operations. With 25 years of experience servicing Ucits, which began acting as the service provider for the first Ucits fund registered in Luxembourg in 1988, the winner has now headed the field in this category for the last four years consecutively.

RBC I&TS offers leading fund administration services to a global client base of asset managers from its 18 locations around the world. It calculates more than two million net asset valuations (annualised), administers more than 6,500 funds and has total assets under administration of USD3 trillion (as at July 31, 2013).

Its main capabilities include investment operations, trade order matching, fund accounting, valuation and unit pricing and client reporting. In addition, fund administration clients benefit from RBC I&TS’ online portal, which provides consolidated access to products and services globally. Access to instruction capabilities offers a secure, fast and effective way to process and monitor trade activity in real time.

The continued development of the RBC I&TS global operating model has delivered ‘follow the sun’ architecture, giving clients improved service quality as well as assured operational efficiency thanks to standardised global processes and coverage models.

Supporting its operations in Luxembourg, RBC I&TS’ processing centre in Toronto covers US time zones, focusing on transaction management and entitlements, and client solutions. Its Malaysia hub covers both Asian and European time zones, with a focus on fund accounting, transaction management and shareholder services.

RBC I&TS continues to address the impact of regulatory demands on its clients. This has included extending its end-to-end Key Investor Information Document (KIID) offering, with stand-alone services that track KIID usage for incoming subscriptions, filing with all supervisory authorities and the calculation and monitoring of ongoing charges.

RBC I&TS has also established depository services in accordance with the Alternative Investment Fund Managers Directive for a consistent approach to safekeeping, oversight and cash-flow monitoring.

Sébastien Danloy, head of continental Europe and offshore, RBC I&TS, comments: “Winning this category for the fourth consecutive year recognises our centre of excellence for asset servicing in Luxembourg. Our clients are drawn from a wide geographic base and promote a variety of sophisticated fund structures that are distributed globally.

“Our Ucits expertise, integrated solutions and extensive network help our clients achieve their cross-border distribution strategies, supporting them on both market expansion and product diversification, while maximising their operational efficiency.”

Danloy adds: “In addition, in an evolving regulatory landscape, service providers need to support their clients more than ever in meeting their compliance requirements and identifying the opportunities that any change could potentially create.”

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