Home   News   Features   Interviews   Magazine Archive   Industry Awards  
Subscribe
Securites Lending Times logo
Leading the Way,

Global Asset Servicing News and Commentary.
≔ Menu
Securites Lending Times logo
Leading the Way,

Global Asset Servicing News and Commentary.
News by section
Subscribe
⨂ Close
  1. Home
  2. Fund services news
  3. Cross-border mandate success for BNP Paribas
Fund services news

Cross-border mandate success for BNP Paribas


07 October 2014 Amsterdam
Reporter: Catherine Van de Stouwe

Generic business image for news article
Image: Shutterstock
A.s.r. Netherlands and a.s.r. Netherlands Real Estate Investment has mandated BNP Paribas Securities Services for a suite of services including depositary banking, global custody and fund administration.

The mandate places over €7 billion of a.s.r.’s assets, which fall under the Alternative Investment Fund Managers Directive (AIFMD), into the depositary function of BNP Paribas Netherlands and Luxembourg.

This cross-border mandate shows continuing success in depositary banking across Europe in response to the AIFMD.

Marco Homburg, head of asset managers and asset owners at BNP Paribas Securities Services, Amsterdam, said: “We are very pleased to have won this mandate from a.s.r. They are a very important name in the Dutch real estate and insurance industry, and we look forward to a very valuable relationship with them.”

Under the AIFMD, which came into effect on 22 July 2014, non-UCITS funds in Europe must appoint a depositary bank for cash monitoring, oversight and safekeeping of assets.

“AIFMD has allowed us to work closer than ever with clients and prospects. We are able to bring our expertise to bear and work by their side to help manage their transition to the regime across various jurisdictions, investment strategies and asset classes, as part of a comprehensive global custody offering.”
← Previous fund services article

Asia Pacific firms choosing triResolve
NO FEE, NO RISK
100% ON RETURNS If you invest in only one asset servicing news source this year, make sure it is your free subscription to Asset Servicing Times
Advertisement
Subscribe today
Knowledge base

Explore our extensive directory to find all the essential contacts you need

Visit our directory →

Discover definitions, explanations and related news articles in our glossary

Visit our glossary →