The joint venture between State Bank of India (SBI) and Societe Generale Securities Services (SGSS), SBI-SG Global Securities Services is now fully operational across all its business segments, after entering its second phase by launching fund accounting and fund administration services.
The group, which already has over $8 billion in funds under administration, started providing custody services in May 2010 and now has around $7 billion in assets under custody from domestic clients and foreign institutional investors.
SBI-SG Global Securities Services, Private Limited, also offers risk analysis and performance measurement and the move is set to broaden its services in the Indian securities market to domestic investors, including banks, mutual funds, insurance companies, pension funds, portfolio management service providers, corporates and brokers as well as to foreign investors in India.