22 September 2013 – Standard Chartered announced today the expansion of fund services capabilities from its Regional Securities Services Centre based in Dubai International Financial Centre (DIFC). These services include fund accounting and administration, compliance reporting, performance measurement and analytics, and institutional transfer agency services.
Standard Chartered’s comprehensive offering provides clients with a one stop solution for all their securities services and banking needs, incorporating cash management, order execution, foreign exchange, custody and fund services.
With the expansion, Standard Chartered’s fund services coverage has reached to 17 markets. Standard Chartered has been providing fund services to over 3000 funds based in Asia, Africa and the Middle East ranging from traditional, alternative (including Real Estate Investment Trust, Private Equity) and pension funds.
Commenting on the expansion of capabilities, Shikkoh Malik, Regional Product Head for Investors and Intermediaries, said: “Expansion of fund services capabilities is a natural progression for us as a comprehensive securities services provider in the region. We have done extensive market research to ensure that not only our capabilities meet client requirements but we differentiate ourselves from other players in the region. We are extremely grateful for the support given to us by the regulator during the licensing process.”
Stewart Adams, Regional Head of Investors and Intermediaries, MENAP, added: “Our comprehensive product suites for the securities industry participants make us the first choice of our clients. I am extremely pleased with the response from our clients who have shown tremendous interest in our capabilities in the Middle East. I firmly believe our extensive coverage, expanded fund services capabilities in the Middle East and recently established UCITS focused Luxembourg branch set us apart from competition in a unique manner”