AIFMD means busy work for BNP Paribas 26 March 2013London Reporter: Georgina Lavers
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BNP Paribas Securities Services has expanded its global set-up for AIFMD with the recent opening of a Netherlands office, as well as the launch of a trustee and depository service in the UK.
James McAleenan, UK head of BNP Paribas Securities Services, said: “The final countdown to AIFMD coming into effect has started, but however well prepared fund managers believe they are for this implementation, it is still a far cry from reality. With four months to go, we continue to urge clients to accelerate the final phases of preparation for what we deem will be a significant re-shape of the alternative fund management industry in Europe and beyond.”
“Beyond the new infrastructure requirements, AIFMD also mandates to segregate risk management and valuation functions from portfolio management, which is why our solution includes a full range of services around valuation of complex products and alternative assets such as real estate, and collateral management.”
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