Universal Investment Group has appointed BNY as the strategic servicing partner for its Irish ICAV-based ETF platform as it prepares to host the inaugural products on the platform.
BNY will provide a full-service solution for asset managers seeking to launch ETFs through the platform, including fund administration, depositary services, and ETF-specific operational support.
Universal Investment will manage the overall platform, offering ManCo services and capital markets functionality for ETFs.
Several ETF mandates have been secured and are currently in preparation, Universal Investment said, with initial launches expected later this year.
Ronan Doyle, chief product officer at Universal Investment, said: “For nearly 60 years Universal Investment has helped our clients grow and unlock scale as markets evolve.
“We are seeing very strong demand from clients seeking to access the active ETF space and are excited to work with BNY to support our expansion in this strategically important area.”
Ben Slavin, global head of ETFs at BNY, added: “Europe’s active ETF market is at an inflection point and we’re excited to work with Universal Investment as they look to capitalize on that opportunity. BNY’s servicing model gives asset managers the scale and infrastructure they need to launch efficiently and grow with confidence.”
