SuMi TRUST Global Asset Services (SuMi TRUST) has won a mandate from Nikko AM Global Cayman to provide a full range of fund administration and asset support services. for twelve funds.
SuMi TRUST will provide fund administration services to Nikko Asset Management’s Japanese-domiciled and off-shore fund structures which includes six existing funds and six planned funds.
The funds, which are all Cayman-domiciled, together account for USD2.7bn in AUM, with each following a dedicated investment strategy. These strategies include global and regional equities, currencies, fixed income and natural resources securities.
Hiromitsu Tanaka (pictured), CEO of SuMi TRUST Ireland, says: "With a track record of more than 25 years of providing fund administration support for both regulated and off shore fund structures, we’re very proud that Nikko Asset Management decided to entrust a greater share of their assets to SuMi TRUST. Our fund administration business in Ireland has enjoyed tremendous success over the past year in attracting business from independent asset managers that are looking to launch new products and replace their administration partner in response to the increasing demands of the global financial services industry.”