French convertible bond fund manager Acropole Asset Management (AcropoleAM) has appointed BNP Paribas Securities Services as global custodian and fund administrator. BNP Paribas will also provide investment compliance monitoring and transfer agency services to Acropole AM.
Created in September 2006, Acropole AM currently manages approximately EUR 180 million, buts its assets under management are predicted to grow to EUR 800 million by the end of 2008.
“Our goal is to become a leader in the management of convertible bonds in Europe,” says Nathalie Sabathier, Director of Strategic Development at Acropole AM. “To accompany our growth we were looking for a securities services partner who had a strong presence in European and international markets, a broad range of services and a proven track record. BNP Paribas was able to meet our needs in all these areas.”
Bernard Blaud, Head of Sales for BNP Paribas Securities Services in France, says the mandate “underlines our commitment to accompany our clients’ business development, and to deliver innovative solutions to needs that are continuously evolving.”