BNY Mellon has been appointed by River and Mercantile Asset Management LLP to provide middle- and back-office solutions for assets valued at $3.1 billion. In an extension of its existing outsourcing agreement with River and Mercantile, BNY Mellon is now providing middle office services and accounting in support of nine open-ended investment companies (OEICs) and all of River and Mercantile's segregated funds.
For the last several years, as more companies look to maximize shareholder returns and increase their focus on core competencies, the investment management industry has seen a seismic shift towards outsourcing middle- and back-office activities. This article was first published in The 2013 Mutual Fund Service Guide, June 2013.
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