Goldman Sachs JBWere Asset Management announced on Tuesday that it has selected RBC Dexia Investor Services to provide fund administration and transfer agency (unit registry) services for its AUD$8 billion portfolio of funds in Australia.

Ian Ward-Ambler, managing director of Goldman Sachs JBWere Asset Management said that due to strong growth in funds under management and the increasing breadth and operational complexity of the product range offered, the business undertook a review of the way it provides its transfer agency and fund administration services.

“Goldman Sachs JBWere Asset Management considered a number of service options with the objective of broadening functionality, improving time to market, further improving our service offering for clients and planning for future growth. We selected RBC Dexia Investor Services based on its strategic and cultural alignment, its commitment to service excellence and its proven ability to work together with us to deliver comprehensive solutions for our clients,” Ward-Ambler said.

“We are fully committed to continuing the recent growth in our Asset Management business and believe this approach offers a level of service required to support our continued growth in this business,” Mr. Ward-Ambler added.

“We are delighted with Goldman Sachs JBWere Asset Management’s decision to expand their relationship with RBC Dexia Investor Services by selecting us to support their business,” said Alex Muto, managing director of RBC Dexia Investor Services Australia. “Our outsourcing model will enable them to focus on their strategic priorities. We look forward to continuing our relationship with Goldman Sachs JBWere as we work to enhance their overall service delivery.”

Fund administration will be provided through RBC Dexia’s Sydney office while transfer agency services will be provided in a new, best-in-class centre of excellence to be established in Melbourne. This new team in Melbourne will leverage the retail registry expertise of Goldman Sachs JBWere’s existing team of professionals through a lift out of staff. The backbone of this service is RBC Dexia’s proven SARA platform, which has helped make RBC Dexia the world’s best provider of transfer agency services, according to Global Custodian magazine’s 2006 survey.

“We will continue to demonstrate our commitment to meeting the needs of this market through innovation and exceptional client service,” said Muto. “The combination of our team of professionals and our SARA platform offers tremendous capability and will have significant impact on the unit registry business in Australia in the years ahead.”