Societe Generale Securities Services (SGSS) has announced the firm has strengthened its administration and accounting services offering for direct investments in Germany, in order to provide a better accounting transparency and financial security.
Direct investments are managed directly by institutional investors, independently from other outsourced asset management activities.
SGSS said it has adapted and optimised its accounting and reporting system in order to map and collect data as a third-party provider for the entire range of its customers’ investments.
As a result, consolidated portfolio data from assets managed directly and externally would form a single structure to provide an overall view of the investor’s portfolio positions.
The enhanced offer will include centralised reporting for the investor’s entire investment portfolio, as well as performance measurement, performance attribution and risk analysis, in addition to customised reporting.
The new accounting services are compliant with both German accounting standards (HGB) and International Financial Reporting Standards (IFRS).
“With asset allocation becoming more complex and diversified, investors are realising they need to increase oversight of their assets and portfolio performance.
“We are confident that we have created unique added-value for institutional investors and met a growing market need with our enhanced direct investment administration and accounting services, based on a combination of both fund administration and reporting expertise that SGSS has been providing in Germany for over 50 years,” said Christian Wutz, managing director of SGSS in Germany.