BNP Paribas Securities Services has reinforced its global offering ahead of the Alternative Investment Fund Managers Directive (AIFMD), which is set to significantly transform the fund management industry.
The bank has just opened a new branch in the Netherlands, which comes shortly after the launch of its trustee and depository service in the UK.
James McAleenan, head of the UK from BNP Paribas Securities Services, says: “The final countdown to AIFMD coming into effect has started, but however well prepared fund managers believe they are for this implementation, it is still a far cry from reality. With four months to go, we continue to urge clients to accelerate the final phases of preparation for what we deem will be a significant re-shape of the alternative fund management industry in Europe and beyond.”
In the UK, the trustee and depository service benefits from years of experience in the trustee and depository space in Europe and is in a position to continue to leverage its global expertise, solid infrastructure and its long-standing offering. Clients can benefit from the BNP Paribas trustee and depository offering as it ensures full compliance with all regulatory demands and guarantees the safety of assets.
McAleenan, says: “Beyond the new infrastructure requirements, AIFMD also mandates to segregate risk management and valuation functions from portfolio management, which is why our solution includes a full range of services around valuation of complex products and alternative assets such as real estate, and collateral management.”
BNP Paribas believes that AIFMD will establish a strong European standard for alternative funds that will largely improve trust levels of investors and all stakeholders in this segment of the industry.