Daiwa Fund Asset Services, a division of Daiwa Securities Group Global Asset Services, has appointed BNY Mellon Trustee & Depositary (UK) as a depositary for UK authorized funds within its fund hosting service.

Daiwa Fund Asset Services is extending its established hosting service for Irish-domiciled funds to include UK domiciled collective investment schemes targeted primarily towards institutional or high net worth investors.

Daiwa Fund Asset Services CEO Brian Guyett said BNY Mellon’s team of highly respected and knowledgeable fiduciary service professionals possesses a wealth of experience when it comes to working with UK fund hosting arrangements. When combined with their commitment to client service, this was a significant influence on Daiwa’s decision to partner with them for Daiwa’s newly established service.

BNY Mellon Asset Servicing head of Trustee & Depositary for Europe, Middle East & Africa Peter Craft said Daiwa’s experience in servicing the Irish funds market provides a solid foundation upon which it can build its UK fund hosting solution.

"We look forward to working closely with them to ensure they have all the tools at their disposal to grow that business successfully," Craft said.