Delaware-based PNC Global Investment Servicing has announced the launch of full-service processing for exchange traded funds.
Delaware-based PNC Global Investment Servicing has announced the launch of full-service processing for exchange traded funds.
A dedicated team will provide fund administration, custody and transfer agency services for both indexed and actively-managed ETFs.
The offering incorporates the organisation’s regulatory administration services, including SEC filing coordination, board meeting preparation, and insurance and fidelity bond support.
In addition, PNC offers full custody and security servicing, including ETF creation, broker redemptions, corporate actions, and index receipt agent services.
‘We are excited to offer a comprehensive service to clients within this growing market,’ says Stephen M Wynne, chief executive officer (photo). ‘In the last five years, ETFs have experienced an average annual growth rate of more than 30 per cent, a trend expected to continue in the coming years.
‘For more than three decades, we have provided administration, custody and transfer agency services for a wide range of mutual fund and alternative investment products to help clients increase efficiencies and simplify workflow.’
PNC Global Investment Servicing is a provider of processing, technology and business intelligence services to asset managers, broker/dealers and financial advisers worldwide.
The PNC Financial Services Group is a diversified US financial services organisation providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global investment services.
