BNP Paribas Securities Services today announced that it has been selected by Lion Global Investors (LGI) to launch new UCITs-structured funds to support the asset manager’s global fund distribution strategy.
Based on BNP Paribas’ Luxembourg platform, LGI is now in a position to capture a share of the growing demand from global investors seeking Asian high-yield assets while serving its Asia region customers more effectively.
BNP Paribas’s infrastructure integrates global custody, fund accounting, depositary bank and transfer agency on a single, global platform, with a client service window based in the region. As a result, LGI will benefit from enhanced operational efficiency and increased ability to respond to investors’ needs around the world with its range of unique funds. It also improves the firm’s risk management and compliance with local banking policies and regulatory requirements.
“BNP Paribas has a truly unique UCITs capability that will help us build our business in new markets,” said Gerard Lee, CEO of Lion Global Investors. “We now have a partner that understands our business goals and proactively consults our team to adapt solutions that help deliver our ambitious growth objectives – both within and beyond our home market.”
LGI has plans to substantially grow its cross-border fund distribution across Asia and other regions to maximise assets, drive economies of scale and grow its asset management business. To achieve a sustainable crossborder strategy, LGI has chosen to create a distribution strategy around the UCITs label to obtain efficient market entry while ensuring their funds remain compliant with regulations in multiple jurisdictions.
Lawrence Au, Head of Asia Pacific at BNP Paribas Securities Services “The market is changing and Asia-based asset managers require a completely integrated international solution to capture new sources of flow from Europe and across Asia.”
“This project demonstrates the superior ability of our UCITs platform to service a fast-growing funds distribution network such as LGI’s and the underlying scalability of the platform,” continued Au, who is also a member of the bank’s Global Executive Committee.
“We are deeply committed to being an innovator and a leader in asset servicing so that our clients continue to reap benefits from our expertise.”
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the strongest banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.
*Rated AA by Standard & Poor’s i.e. 3rd rating level on a scale of 22.
About BNP Paribas Securities Services
BNP Paribas Securities Services (securities.bnpparibas.com) is a wholly-owned subsidiary of the BNP Paribas Group, delivering flexibility and commitment, backed by the strength of a leading universal bank.
Operating across the investment cycle, we provide post-trade administration solutions to buy-side and sell-side financial institutions and issuers. The Bank has a local presence across 32 countries and global coverage of over 100 markets, offering a one-stop shop for all asset classes, both onshore and offshore, across the globe.
With USD 6,975 billion of assets under custody, USD 1,244 billion assets under administration and more than 6,600 funds administered as at 30 June 2011, BNP Paribas Securities Services is a top five global provider of securities services*.
(*) Source: BNP Paribas securities Services Globalcustody.net competitors’ AuC tables.
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