CACEIS to administer ABN AMRO's first UCITS funds
12 March 2014 Amsterdam
Image: Shutterstock
ABN AMRO Investment Management has launched the first two ABN AMRO Basic UCITS exchange-traded funds, which have been listed on Euronext Amsterdam since 6 February.
Following a long RFP process, ABN AMRO awarded the fund administration mandate to CACEIS. It is responsible for providing accounting and related services to the funds.
The ABN AMRO Basic UCITS ETFs respond to the “strong demand” for passive investment fund solutions in the market, said a statement.
The Netherlands-domiciled funds invest in a physical basket of shares, which replicates the complete composition of the tracked index. The funds do not make use of securities borrowing and lending, meaning that “there is no counterparty risk with the ETFs”, said the statement. They can be bought in the orderbook or on the closing NAV of the day.
Bart Mantje, director at ABN AMRO Investment Management, said: “We are delighted to be able to offer these high quality investment solutions to the market. We believe that ABN AMRO Investment Management, combined with the advanced ETF fund administration services of a leading provider like CACEIS, demonstrates our willingness to respond to the market’s demands for simple and transparent investment opportunities”.
Joseph Saliba, deputy CEO of CACEIS, said that the firm had been working closely with ABN AMRO Investment Management to ensure that its ETF servicing capabilities were precisely tailored to its client’s requirements.
“The CACEIS group is also strengthening its commitment to the entire Dutch market, as our new banking license enables us to greatly extend the range of services available to clients through our Amsterdam office.”
Following a long RFP process, ABN AMRO awarded the fund administration mandate to CACEIS. It is responsible for providing accounting and related services to the funds.
The ABN AMRO Basic UCITS ETFs respond to the “strong demand” for passive investment fund solutions in the market, said a statement.
The Netherlands-domiciled funds invest in a physical basket of shares, which replicates the complete composition of the tracked index. The funds do not make use of securities borrowing and lending, meaning that “there is no counterparty risk with the ETFs”, said the statement. They can be bought in the orderbook or on the closing NAV of the day.
Bart Mantje, director at ABN AMRO Investment Management, said: “We are delighted to be able to offer these high quality investment solutions to the market. We believe that ABN AMRO Investment Management, combined with the advanced ETF fund administration services of a leading provider like CACEIS, demonstrates our willingness to respond to the market’s demands for simple and transparent investment opportunities”.
Joseph Saliba, deputy CEO of CACEIS, said that the firm had been working closely with ABN AMRO Investment Management to ensure that its ETF servicing capabilities were precisely tailored to its client’s requirements.
“The CACEIS group is also strengthening its commitment to the entire Dutch market, as our new banking license enables us to greatly extend the range of services available to clients through our Amsterdam office.”
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