Invesco Fund Management and Invesco Management have selected BNY Mellon for transfer agency services in UK and Luxembourg.

Under the agreement, BNY Mellon will offer transfer agency services to the companies $100bn ICVC and SICAV fund ranges.

The American investments company already offers custody and fund administration services for the two fund ranges, which are domiciled in the UK and Luxembourg, respectively.

The firm also provides custody, fund administration and transfer agency certain other Europe fund ranges of Invesco.

These include Irish ETFs, Irish money market funds, UK investment trusts and German KVG funds.

BNY Mellon global head of fund services, Asset Servicing, Alan Flanagan said: “We are delighted to build on our multifaceted relationship with Invesco; our expanded collaboration is focused on a shared commitment to service excellence and an enhanced investor experience.

“Our appointment is a direct result of our exceptional team, strong industry positioning, and innovative client engagement.”

Recent developments at Invesco

In April this year, Invesco launched the Invesco MSCI Green Building ETF, which centres specifically on the entire green building ecosystem.

In March, the firm reportedly hired Pat Chiefalo as its new head of ETFs and Indexed Strategies Canada.

Last year, Bloomberg reported that Invesco was planning to increase its AuM in the Chinese market to $100bn by 2023.

In 2019, the firm took over RedBlack, a technology provider in the investment management space.

Recent developments at BNY Mellon

In March this year, BNY Mellon participated in a Series C financing round for crypto startup Fireblocks, joining the queue of financial firms jostling for space in the crypto realm.

Previously, the firm launched a new enterprise Digital Assets unit to speed up the development of enterprise solutions to serve the digital asset space.