New KIID Client for BNP Paribas Securities Services - BNP Paribas Hong Kong SAR, CHINA
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October 10, 2011 -

New KIID Client for BNP Paribas Securities Services

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BNP Paribas Securities Services today announced that it has won a new mandate to produce the Key Investor Information Document (KIID) for Duemme International Luxembourg (Duemme).

The fund manager selected BNP Paribas who will produce the document – a mandatory UCITS IV requirement for investment companies selling funds within the EU – for its SICAV fund from Q1 2012.

The KIID became a legal requirement on 1 July 2011, meaning that 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.

Following a competitive tender process, Duemme chose BNP Paribas’ solution based on its modular and flexible nature, and the bank’s overall reputation as a leading provider of reporting and risk analysis solutions.

Commenting on the development, Fabio Ventola, COO of Duemme International said “In spite of there being a degree of uncertainty around UCITS IV, we have always viewed any initiatives which make life easier for our clients and end investors, as a good thing.

“Investors want clear, concise information as a base on which they can make informed decisions, and we are pleased to have chosen BNP Paribas Securities Services to help in that capacity,” Ventola continued.

Margaret Harwood-Jones, Head of client segments – asset managers & alternatives, BNP Paribas Securities Services said “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.

“We’re pleased that Duemme has entrusted us with their KIID requirements. With this critical business function now under our responsibility, they can focus on their core business of managing their clients’ assets.

“Earlier this year, we were first to market with a UCITS IV compliant master-feeder solution,” Harwood-Jones continued. “We think that development coupled with this recent client win underlines our commitment to helping clients navigate the complex regulatory terrain.”

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 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.

Press Contacts

Andrew Achimu, Corporate Communications, Securities Services +44 (0) 207 410 2717 Andrew.achimu@uk.bnpparibas.com
Ilias Catsaros, Group Press Office +44 (0) 207 595 3461 Ilias.catsaros@bnpparibas.com