French Asset Manager Signs Partnership Agreement With EFA

Oddo & Cie has also taken a 5% stake in European Fund Administration (EFA) to support the development of the fund administrator’s activities in France.
By Janet Du Chenne(59204)
Asset management firm Oddo & Cie and European Fund Administration (EFA) have signed an international partnership agreement whereby EFA will become the valuation and administration agent for Oddo Asset Management’s funds and the funds of third-party asset management clients of Oddo Services, the firm’s fund administration arm.

Oddo & Cie has also taken a 5% stake in European Fund Administration (EFA) to support the development of the fund administrator’s activities in France.

This partnership is consistent with the international expansion of Oddo Group’s asset management business.

Oddo Services will continue to provide account maintenance and custodian services to the above mutual funds. Oddo Group’s expertise, combined with EFA’s third-party service culture, will enable the two partners to provide asset management companies with a high quality and fully independent service solution, said a joint press release from the two companies.

With the integration of Oddo’s current valuation team, EFA strengthens its presence in France and now comprises 518 employees worldwide looking after 2,720 funds and a total of €103 billion in assets under administration. In addition, Oddo & Cie acquires a 5% stake in EFA based in Luxembourg. Moreover, Philippe Oddo, managing partner Oddo & Cie, has joined EFA’s Board of Directors.

Philippe Oddo, managing partner Oddo & Cie, said: “I am convinced of the validity of an independent valuation model for the mutual funds and am delighted to work alongside the leading independent valuation services provider in Europe.”

Thomas Seale, CEO of EFA, said: “We greatly appreciate Oddo Group’s expertise in asset management, in addition to its in-depth knowledge of the French market. These characteristics guarantee the quality of our partnership.”

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