RBC Dexia Investor Services has been appointed by Toronto-based Middlefield Group to provide outsourced fund administration activities for its closed end funds, the two companies said Wednesday.

“RBC Dexia has provided us with excellent custody services since we transferred this business to them and expanding the services program to encompass fund administration was a natural evolution of our relationship,” said Garth Jestley, president and CEO of Middlefield Group.

“This outsourcing contract will apply to all of our closed end funds and will deliver significant operational efficiencies as we continue to expand our funds platform,” Jestely added.

“We are pleased by this new mandate win and by Middlefield’s commitment to our outsourcing capabilities,” said

John Lockbaum, managing director, Canada for RBC Dexia Investor Services, said the new mandate “ demonstrates the added value our investor services model can deliver to a fund management business that operates across different jurisdictions.”

Middlefield Group manages private and public resource funds, closed-end funds, mutual funds, real estate funds, a venture capital fund and other investments both in Canada and abroad. The firm has offices in Calgary, Toronto, San Francisco and London, England.

IE