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BNY Mellon and FundVantage to support TOBAM US equity fund

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BNY Mellon and FundVantage Trust have been chosen by TOBAM to support the launch of its first mutual fund offered to US investors.

BNY Mellon will provide fund accounting and administration, custody and transfer agency services to TOBAM as the provider of such services to FundVantage Trust, which provides turnkey solutions to help investment managers to launch and operate US mutual funds.
 
"This turnkey solution will help expedite the launch of our emerging markets equity fund and do so less expensively than by building the infrastructure on our own," says David Bellaiche, deputy chief executive officer and chief operating officer of TOBAM. "BNY Mellon and FundVantage have combined to provide the full array of services and scale for TOBAM to launch in the US 40 Act marketplace."
 
"In addition to providing custody and related services from BNY Mellon, FundVantage Trust possesses deep expertise in helping clients navigate the 40 Act launch process, as well as the market-proven ability to assist asset managers defray other potentially steep start-up costs such as insurance, directors and audit fees, and legal," says Robert Christian, chairman of the FundVantage Trust.
 
Brian Chorba (pictured), business head in BNY Mellon's US Asset Servicing group, says: "Utilising the FundVantage structure allows investment managers to accelerate their launch in the 40 Act space and compete more effectively against competitors with established mutual fund offerings. Leveraging their turnkey solution allows us to provide critical fund accounting and other services, which in turn allows fund managers to focus on their core business of investing and distribution, while delegating administration and other functions to the experts on our teams."

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