Report identifies top UK custodians

The Bank of New York (BONY) has become the number one custodian player in the UK unit trust and Oeic industry by number of funds, according to a directory of fund expenses published by City Financial Communications. Through its recent acquisition of RBS Trust Bank, BONY is now custodian of 272 funds in the UK. The directory analyses the annual expenses on 1,253 unit trust and Oeic funds run by a total of 112 fund management groups in the UK, representing combined assets of £140.6bn. The information relates to figures from reports and accounts for the latter half of 1999 or early part of...