The Credit Suisse Investments Australia suite of ‘alternative’ managed funds will join their former ‘traditional’ counterparts, now owned by Aberdeen Asset Management, on RBC Dexia Investor Services’ unit registry platform.
The Credit Suisse IA trusts today represent 1000 unitholders with 2500 accounts, bolstering the number of accounts run through RBC Dexia’s Melbourne-based unit registry hub to 37,000.
Despite the complex strategies employed by some of the Credit Suisse trusts, they were relatively straightforward from a unit registry standpoint, according to RBC Dexia Investors Services Australia managing director, David Travers.
“They don’t have high water marks, and any performance fees would be reflected within the unit price,’ he said.
RBC Dexia was chosen to replace Credit Suisse IA’s internal unit registrar following a competitive selection process, according to the shop’s responsible manager, Simon Beavis.
The ‘traditional’ Credit Suisse funds bought by Aberdeen switched from Infocomp’s Composer platform to the RBC Dexia unit registry platform late last year.