Neuflize OBC Investissements and Neuflize Private Assets, the investment management arms of the French-based bank Neuflize OBC Group, have mandated CACEIS as administrative and accounting manager of their French mutual funds and custodian of mandates.
The business transfer concerns some 80 mutual funds and mandates representing total assets of 12 billion.
This agreement forms part of the partnership with Neuflize OBC Group, already established for depository bank and custody operations. In France, this means that all services required by the two investment management firms for their expansion are centralised with a single service provider, CACEIS.
Neuflize OBC Group is 99.9%-owned by ABN Amro and .01%-owned by private individuals.
(JDC)