BNP Paribas wins Bahamas custody mandate 09 July 2013Nassau Reporter: Mark Dugdale
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Arabian Gulf Holdings has appointed BNP Paribas as the prime broker and custodian for its latest fund.
BNP Paribas will provide prime brokerage services for all investments, margin financing, clearing, securities lending and borrowing facilities, synthetic instruments, currency hedging and custody services for the Bahamas-based AGF Arbitrage Fund.
The fund will provide investors with exposure to arbitrage opportunities in emerging markets, according to Arabian Gulf Holdings.
In a statement, Jai Narain Gupta, consultant to H.R.H. Sheikh Khalifa bin Hamdan al Nahyan and an advisor to the fund, said: "BNP Paribas is a leader in the prime brokerage industry and has all of the capabilities, including a ‘AA+’ credit rating, strong balance sheet, global platform and market leading derivatives business.”
“BNP Paribas's strengths and its excellent equity prime brokerage platform combined with AGH's knowledge of emerging markets will be a powerful addition to the industry.”
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