BNPPSS awarded AIFMD mandate for a.s.r Dutch real estate
BNP Paribas Securities Services has been awarded a cross-border AIFMD mandate by a.s.r Real Estate Investment Management and a.s.r. Netherlands.
The mandate includes depositary banking, global custody and fund administration for a.s.r , a Dutch asset manager.
The mandate was awarded following a competitive tender, it places more than €7bn of a.s.r.’s assets which falling under AIFMD into the depositary function of BNP Paribas Netherlands and Luxembourg.
“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” comments Marco Homburg, head of asset managers and asset owners, at BNP Paribas Securities Services, Amsterdam.
“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,” he adds.
Under the AIFMD, which came into effect on July 22nd 2014, non-UCITS funds in Europe must appoint a depositary bank for cash monitoring, oversight and safekeeping of assets.