BNP Paribas gets Duemme's KIID mandate
10 October 2011 London
Image: Shutterstock
BNP Paribas Securities Services has announced that it has won a new mandate to produce the Key Investor Information Document (KIID) for Duemme International Luxembourg.
The fund manager selected BNP Paribas Securities Services to produce the document for its Société d'Investissement à Capital Variable (SICAV) fund from the first quarter of 2012.
The KIID became a legal UCITS IV requirement in July this year for investment companies selling funds within the EU. Fund managers must produce a two-page information document in an easily comprehensible, non-technical style, written in the local language of each country in which the fund is sold.
Margaret Harwood-Jones, head of client segments – asset managers & alternatives, BNP Paribas Securities Services says, “Asset managers are facing an increasingly complex regulatory landscape, balanced with the ever-present need for a safe-haven in which to keep their assets...With this critical business function now under our responsibility, they can focus on their core business of managing their clients’ assets."
The fund manager selected BNP Paribas Securities Services to produce the document for its Société d'Investissement à Capital Variable (SICAV) fund from the first quarter of 2012.
The KIID became a legal UCITS IV requirement in July this year for investment companies selling funds within the EU. Fund managers must produce a two-page information document in an easily comprehensible, non-technical style, written in the local language of each country in which the fund is sold.
Margaret Harwood-Jones, head of client segments – asset managers & alternatives, BNP Paribas Securities Services says, “Asset managers are facing an increasingly complex regulatory landscape, balanced with the ever-present need for a safe-haven in which to keep their assets...With this critical business function now under our responsibility, they can focus on their core business of managing their clients’ assets."
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