BNP Paribas gets Duemme's KIID mandate 10 October 2011London Reporter: Anna Reitman
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BNP Paribas Securities Services has announced that it has won a new mandate to produce the Key Investor Information Document (KIID) for Duemme International Luxembourg.
The fund manager selected BNP Paribas Securities Services to produce the document for its Société d'Investissement à Capital Variable (SICAV) fund from the first quarter of 2012.
The KIID became a legal UCITS IV requirement in July this year for investment companies selling funds within the EU. Fund managers must produce a two-page information document in an easily comprehensible, non-technical style, written in the local language of each country in which the fund is sold.
Margaret Harwood-Jones, head of client segments – asset managers & alternatives, BNP Paribas Securities Services says, “Asset managers are facing an increasingly complex regulatory landscape, balanced with the ever-present need for a safe-haven in which to keep their assets...With this critical business function now under our responsibility, they can focus on their core business of managing their clients’ assets."
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