J.P. Morgan Asset Management has chosen BNP Paribas Securities Services as depositary bank and fund administrator for its first France domiciled fund based on the passport of its Luxembourg Management Company.
This new contract extends an existing partnership between BNP Paribas and J.P. Morgan Asset Management. To distribute funds in France with French institutional investors, the management company already relies on BNP Paribas’ capacity, through a dedicated fund hosting product, to offer overall solutions featuring local expertise and proven experience in risk management. The passport is a new way for the bank to assist management companies in their international distribution.
“France is the first country where we have set up this passport, which was established by the UCITS IV directive, in order to offer our clients products constituted under local law featuring integrated management and a French custodian”, explained Jon Griffin, managing director of J.P. Morgan Asset Management (Europe).
“We obtained AMF approval for a first fund constituted under French law and managed on the basis of this model for an institutional client and we can now offer tailored services to other clients, both institutional and distributors”, adds Karine Szenberg, managing director of J.P. Morgan Asset Management in France.
J.P. Morgan Mandates BNP Paribas For France-Domiciled UCITS Fund
J.P. Morgan Asset Management has chosen BNP Paribas Securities Services as depositary bank and fund administrator for its first France domiciled fund based on the passport of its Luxembourg Management Company.
« SGSS Retained by Franklin Templeton Funds as Italian Paying Agent