Millennium Trust Company, a provider of custody solutions for institutions, advisers and individuals, has expanded its fund custody solution to include custody for registered investment companies ('40 Act Funds) as well as verification services.
"Millennium's fund custody solution was created in late 2010 to address advisers' need to comply with the SEC Custody Rule 206(4)-2, and to create much-needed transparency for the end investor," says Gary Anetsberger (pictured), CEO of Millennium Trust. "The services quickly attracted adviser-controlled funds investing in alternative assets such as marketplace loans, private equity, hedge funds as well as traditional assets.”
The solution now supports funds leveraging their loan portfolios by providing verification and certification services required by the funds' credit facilities.
"This new service offers the ease of having custody and verification services with one service provider," says Meg Zwick, Millennium Trust's director of alternative custody services.
In addition, Millennium has expanded its services to include providing custody for '40 Act Funds.
Assets under custody within the fund custody division surpassed USD10.8 billion as of 30 September.
