BNP Paribas Securities Services (BPSS) has won a mandate to provide depository banking services to Hansa Trust, a global equity investment company worth approximately £280 million.
BPSS will monitor cash movements within the trust’s funds and safekeep its assets. The bank will also provide compliance services for Hansa’s managerial decision-making, both with regards to new regulations and the interests of the fund’s shareholders.
“From a very early stage in the implementation of AIFMD in the U.K., BNP Paribas recognised the impact the directive would have on the investment trust industry and planned for the timely introduction of depositary services to its clients,” says Stephen Thomas, chief financial officer at Hansa Capital Partners. “At the same time, the bank kept us up to date with UK regulators’ developing requirements, assisting us with our planning requirements. This has enabled us to become fully compliant more than one month prior to the AIFMD deadline.”
“AIFMD brings about significant changes for market participants running alternative investment strategies,” adds head of UK trustee and depository services at BNP Paribas Securities Services, Linda Morsia. “For investment trusts such as Hansa, an important part of implementing the directive was to clarify the respective roles of depositary banks and investment trust boards to avoid duplication. We are delighted to be working with Hansa Trust.”
BNP Paribas to Provide Depository Banking Services to Hansa Trust
BNP Paribas Securities Services (BPSS) has won a mandate to provide depository banking services to Hansa Trust, a global equity investment company worth approximately £280 million.
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