BNY Mellon, a global leader in investment management and investment services, has been chosen by Liontrust to consolidate the outsourced fund services for its UK and Ireland fund ranges.

The services to be provided by BNY Mellon include depositary, fund accounting, global custody, global risk solutions, middle office and transfer agency. Ancillary services will cover securities lending, FX and cash management.

Daron Pearce, CEO, BNY Mellon EMEA Asset Servicing, said, ''Liontrust has grown rapidly over the past eight years to reach £11.3 billion in AuM today by building its product offering and developing its distribution capability in the UK and internationally. This has created a great platform for future expansion and we are delighted to have been chosen as the service partner to support Liontrust through these exciting times. This decision demonstrates how our commitment to providing investment managers with the most comprehensive service offering will enable Liontrust to focus on delivering value to its clients, investors and shareholders.'

Vinay Abrol, Chief Operating Officer & Chief Financial Officer of Liontrust Asset Management Plc, said, 'Our acquisition of Alliance Trust Investments last year resulted in a total of five asset servicing relationships across the Liontrust business. It is clear that moving to a single partner will help us to achieve our strategic objectives. To accomplish this, we ran a thorough provider selection exercise, followed by a further period of detailed due diligence, with the support of Alpha Financial Markets Consulting. We selected BNY Mellon because of its commitment to the relationship, its partnership approach and the quality of its service proposition. We have been working with BNY Mellon since the decision and have been impressed with both its capabilities and professionalism. Liontrust is an ambitious and growing asset manager, and we are very pleased BNY Mellon will be supporting us over the coming years.'

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The Bank of New York Mellon Corporation published this content on 17 July 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 July 2018 07:11:07 UTC