CACEIS Germany has renewed its partnership with Luxembourg-based management company Axxion.
As part of the extension, Axxion transferred nine of its funds to CACEIS in Germany.
These funds are open-end special alternative investment funds (AIFs), regulated under German law, including assets such as equity, bonds, derivatives and target funds.
CACEIS will provide depository and custody services as well as for trading, fund execution, and execution and clearing for exchange-traded derivatives; the total volume equates to some €1 billion in assets.
Starting in August 2020, the migration was executed in three waves to ensure a smooth and controlled onboarding of the funds.
Martin Genannt, head of business development at Axxion, commented: "We were looking for an additional strong partner with whom we can implement projects where, on top of individual service, there is also a wide range of product offerings and capabilities.”
“With CACEIS, we have now found this partner for our cross-border activities in Germany and look forward to a good cooperation.”
Robert Pietzka, head of relationship management, responsible for asset managers and asset owners in Germany, added: “Axxion has extensive know-how and a strong network in the market. As a leading service provider, CACEIS is proud to be working now with Axxion also in Germany and to provide ongoing support for their business development objectives.”
