RBC Investor & Treasury Services, part of the Royal Bank of Canada (RBC), has been appointed by Bennelong Funds Management to provide custody and administration services.
RBC Investor & Treasury Services will administer four of Bennelong’s funds. Additional funds due to be launched this year will also be administered.
Bennelong chief executive Craig Bingham said: “Bennelong is currently in a steadfast phase of growth.
“We needed an administrator who could facilitate our efforts. RBC comes with the backing of one of the largest banks in the world, but has the funds management expertise and client focus we were seeking.
“We were attracted to the dedicated asset manager focus, responsiveness and integrated strategy,” Mr Bingham said.
RBC Investor & Treasury Services managing director of Australia David Travers said: “Asset managers are increasingly looking for their service providers to bring insight as well as operational capability to the development of meaningful relationships.
“As such, it is deeply rewarding for our focus on client service excellence and integrity to be recognised by a manager of Bennelong’s stature and reputation within the Australian funds management community.”