Arrow Capital Management has awarded CIBC Mellon C$1 billion asset servicing mandate for its new and existing investment fund offerings.
As part of the mandate, CIBC Mellon will provide custody, accounting and information-delivery services for Arrow Capital’s family of actively-managed investment funds.
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In addition, CIBC will also deliver asset servicing support for expanding Arrow Capital’s retail mutual funds offering to Canadian investors.
Robert Maxwell, managing director and CFO of Arrow Capital, said: "We chose CIBC Mellon for their responsive client service in the Canadian market, robust technology and global market access through BNY Mellon. We are looking forward to leveraging their solutions as we continue to build success for our investors."
Mark Purdy, managing director and CIO of Arrow Capital, said: "The timing of this announcement with CIBC Mellon fits perfectly with Arrow Capital’s expanding platform of funds as we recently launched equity and fixed income offerings managed by Veronika Hirsch of Arrow Capital and Mike MacBain of East Coast."
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