Societe Generalehas been appointed as clearing broker and certificate issuer to a range of funds managed by Progressive Capital Partners, a Swiss based alternative investment management group.
Societe Generale Securities Services has also been appointed Custodian to the funds.
Societe Generale’s appointment relates to Progressive’s new Linden Core Fund 1x and Linden Core Fund 2x, which are both Irish-domiciled and have been authorised as UCITS compliant. The funds are part of a growing range offered by Progressive, which now has assets under management of more than USD680 million.
Andrew Dollery, Director, Societe Generale Prime Services, says: “Progressive Capital is one of Switzerland’s leading alternative investment managers and we look forward to strengthening our partnership with them as we are convinced that they will grow in the coming years.
“Through the Linden Core Funds range, Progressive brings a unique CTA product to the UCITS investment community. This relationship is a further recognition of Societe Generale’s ability to offer clients innovative UCITS compliant services.”
Ivo Winistörfer, Chief executive officer, Progressive Capital Partners, says: "Societe Generale was appointed as counterparty to our new funds because the team demonstrated a unique understanding of our needs, in particular, the innovative certificate solution they brought to us. Today’s announcement expands Progressive’s offering to investors, specifically delivering access to systematic trading strategies in a UCITS-compliant format. We believe these new products will add important diversification benefits to many traditional investor portfolios.”
