Australia-based Bennelong Funds Management has selected RBC Investor & Treasury Services as its custodian and administrator.
Under the partnership, RBC Investor & Treasury Services will administer four Bennelong funds including Bennelong Avoca Emerging Leaders Fund, Bennelong Australian Equities Fund, Bennelong Concentrated Australian Equities Fund, and Bennelong ex-20 Australian Equities Fund.
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Also, RBC will be responsible for administration of other funds that are due to be launched by Bennelong later in 2015.
Bennelong, a wholly owned subsidiary of the Bangarra Group, currently has more than $5.5bn in funds under management.
Bennelong CEO Craig Bingham said: "The decision to appoint a new custodian and administrator was not taken lightly. It followed an extensive market review conducted with the assistance of Foxrock Consulting.
"We were attracted to the dedicated asset manager focus, responsiveness and integrated strategy. 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."
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