Ashburton Investments, the Jersey-based asset management business of FirstRand Group, has signed an agreement with JTC to administer fund shareholder accounts following full regulatory approval. The partnership will see JTC provide fund administration and fund accounting services to Ashburton Investments investors. The agreement will provide clients in Ashburton’s Jersey domiciled funds and nominee service with an enhanced administration service, delivered through the latest advances in fund administration technology.
This follows a review of Ashburton Investments’ operating platform to better meet the needs of the group’s global client base.
JTC is one of the largest providers of fund, corporate and private wealth services in the Channel Islands and has a team of over 900 professionals delivering services from a global network of 23 offices. JTC is trusted to administer assets in excess of US$130 billion.
Corne Burger, Head: International, says: “This agreement bolsters our global platform, giving us a strong and scalable platform for future growth. We are delighted to be able to offer our fund clients enhanced administration services through a first-rate operator.”
Nigel Le Quesne, CEO of JTC, says: “We are delighted to partner with Ashburton Investments to support their enhanced strategy and help them to continue to deliver first-class service to their clients. Our deep experience in fund administration coupled with our scalable platform and best-in-class technology means that we will be able to provide a seamless and flexible service to Ashburton Investments and with the ability to grow alongside them.”
About Ashburton Investments
Ashburton Investments is the FirstRand group’s investment manager, bringing together the investment expertise from across the group. Assets under management for Ashburton Investments as at 30 June 2019 was ZAR103 billion, £5.3bn equivalent.
JTC is a publicly listed, award-winning provider of fund, corporate and private client services. Founded in 1987, we have c.900 people working across our global office network and are trusted to administer assets of c.US$130 billion. The principle of making all our people owners of the business is fundamental to our culture and aligns us completely with the best interests of our clients.
Ashburton Fund Managers (Proprietary) Limited is a licensed Financial Services Provider (“FSP”) in terms of the Financial Advisory and Intermediary Services Act, 37 of 2002, FSP number 40169, and Ashburton Management Company RF (Pty) Ltd is an approved manager of Collective Investment Schemes in terms of Collective Investments Scheme Control Act, 45 of 2002.