SGSS awarded fund admin and transfer agency mandates by Fineco Asset Management

SGSS will become Fineco’s transfer agent and fund administrator in Italy and Luxembourg for its UCITS funds.

By Joe Parsons

Societe Generale Securities Services (SGSS) has been mandated by Irish asset manager, Fineco Asset Management to act as a local transfer agent and fund administrator for three funds. 

SGSS will become Fineco’s transfer agent for its Luxembourg “CoreSeries” UCITS funds, and provide depositary and trustee services, fund administration and transfer agency for €6 billion of assets under management.

It will also provide similar services for Fineco’s Irish “Fam Series UCITS ICAV” and “FAM EVOLUTION SICAV” funds and will help distribution of these funds in Italy and Luxembourg.

“We are delighted to have established a new partnership with SGSS for these new UCITS funds, thus taking advantage of a strategic and long-standing relationship with the Fineco Group,” said Fabio Melisso, CEO of Fineco Asset Management. “In this perspective, we decided to benefit from SGSS international expertise in supporting fund distribution for all our products.”

Last year, SGSS launched a new fund distribution analytics tool for asset managers, using its own data lake to help optimise cross-border strategies. The data lake stores and aggregates information and data from transfer agents, and will be used for funds domiciled in Luxembourg, Ireland and Germany.

At the back-end of last year, Fineco also awarded BNP Paribas Securities Services a mandate for the French bank to provide it a range of custody and depositary banking services in Ireland.