SGSS Wins Custody Mandate from IP Valmy

Societe Generale Securities Services (SGSS) has been mandated by French IP Valmy insurance company to service its €800 million in assets under custody.

SGSS will provide custody, depositary and valuation services for the entire range of its funds, currently under management with around 10 asset management companies.

The mandate illustrates a growing demand amongst companies for custodians to provide valuation services for their financial assets, in order to demonstrate transparency and to meet increased data requirements for regulators.

IP Valmy manages supplementary funded pension schemes for employees, in addition to the French social security scheme and supplementary retirement schemes provided by AGIRC / ARRCO.