Brown Brothers Harriman Appointed New OEIC Depositary By F&C; Major New Client Win for BBH's OEIC Depositary and Unit Trust Trustee Subsidiary.Business/Technology Editors LONDON--(BUSINESS WIRE) Feb. 27, 2001 - Brown Brothers Harriman (BBH BBH Brown Brothers Harriman (investment bank) BBH Bartle, Bogle, Hegarty (advertising agency) BBH Bouncing Busy Hour BBH Blueback Herring (FAO fish species code) ) announced today that Foreign & Colonial Management, (F&C), appointed Brown Brothers Harriman Investor Services Limited, (its wholly-owned subsidiary), as the OEIC OEIC Open Ended Investment Company OEIC OptoElectronic Integrated Circuit (open-ended investment company) depositary DEPOSITARY, contracts. He with whom a deposit is confided or made. 2. It is, the essence of the contract of deposits that it should be gratuitous on the part 'of the depositary. 9 M. R. 470. and administrator for its recently introduced new range of funds, the first of which is the BLUE fund. BLUE offers low risk investment, any profit from the return of which can be offset against an investor's capital gains tax allowance. The appointment of BBH by F&C to provide depositary services is an extension of a long-standing relationship between the two firms and represents a success in BBH's strategy to build upon its strong, existing pan-European relationships. BBH Dublin provides custody and fund administration services to F&C's Romanian Fund, and BBH Luxembourg provides custody and fund administration services for the entire suite of F&C's Luxembourg funds. Andrew J.F. Tucker, partner of BBH and chief executive officer of BBH Investor Services Ltd, stated: "We are delighted that F&C has appointed BBH as the BLUE fund OEIC depositary and administrator. We believe this major win validates our decision to enter a sector that has been difficult for the industry. A number of our competitors have withdrawn from providing depositary and trustee services, but BBH believes that there is a role in the UK for a quality provider. We have long provided custody and fund administration services to European European emanating from or pertaining to Europe. European bat lyssavirus see lyssavirus. European beech tree fagussylvaticus. European blastomycosis see cryptococcosis. investment managers and collective investment schemes and our objective is to extend these relationships to include the full servicing of funds across Europe." Wolf-Rudiger Feiler, Executive Director of Foreign & Colonial Management, said, "The new BLUE fund is a great innovation for investors to potentially achieve very good returns at low risk and is to be one of many exciting opportunities that we will offer to the UK investor. As we already enjoy a very successful relationship with BBH in Europe, it was a natural choice to select the firm as the fund's OEIC depositary and administrator in the UK. At F&C we look forward to the successful launch of new funds in the future and believe that administrators and custodians
The Custodians is terminology in the Bahá'í Faith, which refers to nine Hands of the Cause assigned specifically to work at the Bahá'í World Centre in attendance to the Guardian of the Faith. , such as BBH, will play an integral role in achieving this success." About Foreign & Colonial F&C manages 25.1 billion pounds sterling, (as at 31.12.00), for both institutions and retail investors Retail Investor Individual investors who buy and sell securities for their personal account, and not for another company or organization. Notes: Retail investors buy in much smaller quantities than larger institutional investors. in the UK and overseas. Founded in 1868, F&C is one of the City's oldest investment management companies. Having pioneered the idea of collective investment, the Foreign & Colonial Investment Trust PLC, at approximately 3.1 billion pounds sterling in value, remains the largest of its kind in the world. F&C has become synonymous with synonymous with adjective equivalent to, the same as, identical to, similar to, identified with, equal to, tantamount to, interchangeable with, one and the same as excellence and reliability in the areas of investment trusts, unit trusts, pension funds, emerging market investments, ISAs, PEPs, offshore funds and charities. About Brown Brothers Harriman A global leader with 180 years of experience, Brown Brothers Harriman (BBH) helps many of the world's most sophisticated mutual funds, investment managers, banks and insurance companies achieve their international business objectives. BBH provides specialist services and innovative solutions to clients in 103 markets for custody, accounting, administration, securities lending Securities Lending When a brokerage lends securities owned by its clients to short sellers. Notes: This allows brokers to create additional revenue (commissions) on the short sale transaction. , foreign exchange and brokerage services. Combining entrepreneurial en·tre·pre·neur n. A person who organizes, operates, and assumes the risk for a business venture. [French, from Old French, from entreprendre, to undertake; see enterprise. thinking, innovative technology and unmatched client service, BBH is consistently ranked among the world's top global custodians and maintains a presence in each of the principal financial centres around the globe. For more information on BBH's unique integrated approach, please visit www.bbh.com. About Brown Brothers Harriman Investor Services Limited Brown Brothers Harriman Investor Services Limited (BBH ISL ISL - Interface Specification Language. Xerox PARC. Interface description language used by the ILU (Inter-Language Unification) system. Includes descriptions of multiple inheritance, exceptions and garbage collection. E-mail: Bill Janssen <janssen@parc.xerox.com>. ) was founded in 1999 and offers a full range of depositary and trustee services to fund clients. Backed by an award-winning custody operation, BBH ISL forms part of BBH's pan-European presence. In Luxembourg BBH is the largest custodian bailee (custodian) n. a person with whom some article is left, usually pursuant to a contract (called a "contract of bailment"), who is responsible for the safe return of the article to the owner when the contract is fulfilled. of third party funds and in Dublin assets under administration have doubled in size each year since inception. BBH is a trustee for a total of $15 billion in assets globally. |
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