German firm picks BNY Mellon to manage new fund range

VVO Haberger AG in Munich has appointed BNY Mellon Services KAG to launch and manage its new Private Label Funds in Germany.

BNY Mellon will provide the company with bespoke KAG (‘Kapitalanlagegesellschaft’), custody and depotbank services.

Andreas Haberger, co-CEO of VVO Haberger, said: “BNY Mellon Service KAG impressed us when it came to those fund structures which are relevant to us.”

Co-CEO Florian Haberger added that “no other service provider has been able to demonstrate a similar wealth of experience and put together such a customised package.”

Thomas Grünewald, managing director, BNY Mellon Service KAG, said: “Both [companies] offer products that are tailored to individual customer needs. For both [of us], the focus is also on ‘high-touch’ personal contact with our clients. This common ground represents an ideal basis for our partnership.”

BNY Mellon has been serving clients in Germany since 1931, with its first office in Frankfurt in 1972. In August 2010 it expanded its presence in the region by acquiring BHF Asset Servicing and Frankfurter Service KAG.

In addition to asset servicing, depotbanking, fund administration and asset management, BNY Mellon is active in Germany in the areas of corporate trust, treasury services, collateral management, depository receipts and client management.

It has over 200 institutional relationships in Germany, including more than 20 DAX-listed corporations, and offers regional coverage for 14 countries in the German speaking and Central Eastern and South Eastern European region.

The global firm has $27.1trn in assets under custody and administration and $1.3trn in assets under management.

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