Brown Brothers Harriman has been selected to provide global custody, accounting, administration and primary market transfer agency for the newly launched Xact exchange-traded funds.
The Xact ETF platform is an open-ended collective investment company established under the laws of the Grand-Duchy of Luxembourg with an umbrella structure comprising of different sub-funds and classes.
Each sub-fund is an ETF and is listed for trading on Nasdaq OMX Stockholm.
Shares of each ETF are bought and sold in the secondary market in the same manner as ordinary shares of a listed trading company.
“BBH enjoys a longstanding relationship with Handelsbanken and we are thrilled to be partnering with Xact to support this important Luxembourg ETF platform,” says Shawn McNinch, global head of ETF services at BBH. “These ETFs represent a close collaboration between BBH and XACT from product inception to successful launch.”
“I am delighted to work together with BBH on our new ETF structure in Luxembourg. This will enable us to maintain our position as the leading Nordic ETF provider,” says Henrik Norén, managing director, Xact.
