BNP Paribas Securities Services (BNP Paribas) today announced the roll-out of a major investment programme to expand its hedge fund and fund of hedge fund servicing capabilities for both UCITs and offshore funds.
Placing transparency, market exposure, liquidity and control at the heart of its hedge fund servicing platform, the custodian bank’s programme tailors its service to more closely match the key requirements of both start-up and established funds.
Building on existing fund accounting, performance and risk monitoring capabilities, BNP Paribas’ investment programme now enables it to support hedge fund managers using all current strategies, including those employing high volume trading.
The programme also supports the delivery of BNP Paribas’ client focused market intelligence, which utilises the bank’s position at the forefront of regulatory change to keep its clients up-todate on, and ready to take advantage of market evolution.
BNP Paribas’ programme introduces:
– Improved transparency through enhanced tri-party reconciliations between fund, administrator, counterparties and prime brokers
– Better control and a flexible platform, capable of adapting to market changes through a broader range of automatically processed over the counter instruments, combined with collateral management, independent valuation and asset protection structures
– Comprehensive fund reporting including daily profit and loss, counterparty and asset exposure risk, portfolio liquidity and FAS 157 compliant daily asset valuations
– High quality online reporting tools making it easier for investors to access fund data Chris Adams, recently appointed head of hedge fund solutions at BNP Paribas Securities Services said: “As the hedge fund industry becomes more institutional-investor focused, hedge fund managers’ administration requirements will continue to evolve.
“This investment programme, now live, was conceived specifically to meet these requirements by taking a more menu-driven approach – helping managers launch funds quickly, measure counterparty exposure and exert greater control,” continued Adams, who first joined the bank in 2006.
“It is part of our ongoing commitment towards positioning ourselves as the bank of choice for asset managers” Adams concluded.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is one of the best rated 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.
About BNP Paribas Securities Services
BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by a strong universal bank (rated AA- by Standard and Poor’s). It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates and issuers.
The bank has a local presence in 32 countries across five continents, effecting global coverage of more than 100 markets. It partners with clients to help overcome complexity, while offering a one-stop shop for all asset classes, both onshore and offshore, around the world.
Key figures as at 30 September 2011: USD 6,362 billion of assets under custody, USD 1,128 billion of assets under
administration, more than 6,500 administered funds and 7200 employees.
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