X

X

Smith & Williamson Fund Administration appointed ACD on £1 billion of Brooks Macdonald Group funds

Smith & Williamson Fund Administration Limited (SWFAL), part of Tilney Smith & Williamson, has announced that it is to act as Authorised Corporate Director (ACD) for seven Brooks Macdonald funds. SWFAL is already ACD for 11 funds run by Cornelian Asset Managers which was acquired by the Brooks Macdonald Group in November 2019. 

Following a competitive pitch process, the deal will see the existing Cornelian book retained while also providing an extra £1 billion of Funds Under Administration for SWFAL under the Brooks Macdonald name.

Since launching in 1985, SWFAL has grown to become one of the largest Host ACD providers in the UK and today supports 12 fund sponsors, as well as around 40 investment managers, and provides services for more than 140 funds.

Robin Eggar, Managing Director, Head of UK Investment Management at Brooks Macdonald commented: “We have a long and successful relationship with Smith & Williamson, inherited through our Cornelian acquisition, and we are delighted to expand this partnership by appointing them as ACD for our BM Blueprint Multi Asset, Defensive Capital and Levitas Funds. Consolidating these relationships by moving the majority of our funds to Smith & Williamson will bring benefits and efficiencies as well as reducing operational risk.”

James Gordon, CEO of Smith & Williamson Fund Administration Limited commented: “We are very pleased to have been appointed ACD for Brooks Macdonald’s funds. This deal builds on the excellent relationship we have developed with Cornelian Asset Managers and their funds since 2014 and is a vote of confidence in our experienced ACD oversight and operational teams based in Glasgow.

“Protecting investors’ interests is of increased focus and paramount importance.  It is essential that fund managers can be confident in the capabilities of their Host ACD and therefore we are delighted Brooks Macdonald has chosen us to perform this important fiduciary duty for these additional fund ranges. We are seeing many opportunities in this market and expect to announce further deals in the months ahead as we successfully continue with our growth strategy.”

This Week’s Most Read

Latest IFA Magazine Podcast Episodes

Keep updated on the most important financial events 

Make sure you are an informed

wealth professional..

Adblock Blocker

We have detected that you are using

adblocking plugin in your browser. 

IFA Magazine