BNY Mellon, the global leader in investment management and investment services, has been appointed by Menzis to provide custody and other value added services as part of a fully integrated servicing solution.
Based in Wageningen, Menzis is one of the leading health insurance companies in the Netherlands with approximately EUR2 billion in assets. BNY Mellon will record all unit holdings in Menzis' various pooled funds, its liquidity and return portfolio, and related underlying mandates. It will also provide consolidated fund accounting on a monthly basis.
Other services include:
Ruben Wenselaar, CFO/CRO at Menzis, said: "We were looking for a stable partner in the asset servicing space. After a comprehensive review and process, we selected BNY Mellon. They clearly demonstrated progressive attitude and that they had the necessary skills and teams to support us in our business going forward. Being able to turn our data into information is key in today's markets and BNY Mellon is well placed through their online portal with advance interactive reporting, as well as simple cash authorisations through their iPad App."
Leonique van Houwelingen, Country Executive for the Netherlands, said: "After a thorough due diligence procedure, Menzis recognises our unique position in the Dutch market when it comes to supporting complex Fonds voor Gemene Rekening (FGR) pooled fund structures and insurance companies. We are very pleased to extend our footprint in the Netherlands with this new valued Dutch insurance client."