CIBC Mellon selected to provide fund services for Redwood Asset Management

Redwood Asset Management adds fund administration, fund accounting and recordkeeping for 12 funds to existing CIBC Mellon asset servicing relationship 

TORONTO, June 30, 2016 /CNW/ - CIBC Mellon today announced that it has been selected to deliver fund administration, fund accounting and recordkeeping for Redwood Asset Management's family of 12 funds. Redwood Asset Management's platform covers a broad spectrum of unique Canadian and global mandates. CIBC Mellon currently delivers custody services and investment information delivery to Redwood and will begin to also deliver fund accounting and recordkeeping for Redwood's funds.

"Redwood's mission is to provide Canadian investors and their advisors with needs-based investment solutions that they can't find elsewhere," said Peter Shippen, President and Chief Executive Officer, Redwood Asset Management. "We actively seek out top talent to help us deliver for investors, and CIBC Mellon has proven to be a capable and adept asset servicing supplier with a strong focus on client service, effective technology and an experienced team. As such, we are pleased to expand our relationship with an array of sophisticated fund services."

"We understand that asset managers and fund companies face complex challenges as they work to meet the needs of investors. We are pleased to work with Redwood Asset Management to tailor a fund servicing solution that meets their investors' needs," said Alistair Almeida, Vice President, Relationship Management and Investment Funds Practice Lead, CIBC Mellon. "In addition to custody services, we are excited to deliver our fund accounting and recordkeeping solutions for their 12 funds."

About Redwood Asset Management
A boutique investment firm, Redwood Asset Management is a Toronto-based fund manager focused on delivering unique and flexible investment solutions to Canadian investors. Recognized for superior out-of-the-box thinking, we listen closely to investors and their advisors to identify specific investment challenges that they face. With this insight, we actively seek out award-winning portfolio managers with unique and flexible mandates, a track record for adding value, and interests that align with yours - some of the best-kept secrets in the financial marketplace. Established in 2002, today Redwood offers a breadth of investment solutions to meet unique investment needs. www.redwoodasset.com

About CIBC Mellon
CIBC Mellon is a Canadian company exclusively focused on the investment servicing needs of Canadian institutional investors and international institutional investors into Canada. Founded in 1996, CIBC Mellon is 50-50 jointly owned by The Bank of New York Mellon (BNY Mellon) and Canadian Imperial Bank of Commerce (CIBC). CIBC Mellon's investment servicing solutions for institutions and corporations are provided in close collaboration with our parent companies, and include custody, multicurrency accounting, fund administration, exchange-traded fund services, recordkeeping, pension services, securities lending services, foreign exchange settlement and treasury services. As at March 31, 2016, CIBC Mellon had more than C$1.6 trillion of assets under administration on behalf of banks, pension funds, investment funds, corporations, governments, insurance companies, foreign insurance trusts, foundations and global financial institutions whose clients invest in Canada. CIBC Mellon is part of the BNY Mellon network, which as at March 31, 2016 had US$29.1 trillion in assets under custody and/or administration. CIBC Mellon is a licensed user of the CIBC trade-mark and certain BNY Mellon trade-marks, is the corporate brand of CIBC Mellon Global Securities Services Company and CIBC Mellon Trust Company, and may be used as a generic term to refer to either or both companies.

For more information - including CIBC Mellon's latest knowledge leadership on issues relevant to institutional investors active in Canada - visit www.cibcmellon.com.

SOURCE CIBC Mellon

For further information: CIBC Mellon: Brent Merriman, Corporate Communications, 416-643-5065, brent_merriman@cibcmellon.com; Redwood Asset Management: Peter Shippen, 416-304-6811, pshippen@redwoodasset.com

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