CACEIS chosen as depository for German funds 05 June 2014Luxembourg Reporter: Stephen Durham
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AXA Investment Managers Deutschland (AXA IM Deutschland) has engaged CACEIS as depositary for its entire existing real estate open ended mutual and special funds business in Germany, with a total fund volume of €2.5 billion.
Matthias Leube, managing director of real estate within AXA IM Deutschland, commented: "CACEIS is one of only a few service providers that is able to provide a comprehensive range of services for both mutual and special funds.”
"During our selection process, CACEIS’s wide experience in business migration as well as its status as a leading independent, third-party depositary, were decisive factors."
Holger Sepp, member of the management board of CACEIS Bank Deutschland, said: "Our broad range of services and our strong market reputation is derived from our group’s extensive experience in the real estate funds business."
"We are delighted that AXA IM Deutschland has entrusted all its existing real estate business to CACEIS. Following this appointment, we provide depositary services for 16 real estate investment companies with a volume of some €16 billion.”
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