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  • 2015/01/21
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CACEIS appointed as depositary for IVG’s real estate funds

 

 

Paris, 14 January 2015- IVG Institutional Funds GmbH (IVG IF), Germany’s Frankfurt am Main-based market leader in real estate special funds has selected CACEIS as depositary for the majority of its open-ended real estate funds. By the end of February 2015, IVG IF will transfer a € 6.3 billion portfolio from former depositary Sal. Oppenheim to CACEIS. The decision to appoint CACEIS was the result of a transparent tender process conducted by IVG IF.

 

"We have made an informed decision in selecting CACEIS. The decisive factor was a combination of CACEIS belonging to a solid banking group, the company’s broad expertise in real estate special funds, and its well-proven expertise in performing large fund migrations", said Irmgard Linker, Managing Director and CFO of IVG IF.

 

"We are further encouraged by IVG IF’s decision to engage our services. We will perform the migration of the vast majority of the portfolios held at Sal. Oppenheim to CACEIS by the end of February 2015," said Holger Sepp, Board Member of CACEIS Bank Deutschland. This step was possible after Sal. Oppenheim announced in May 2014 the transfer of its depositary function for real assets to CACEIS, subject to the approval of clients. “This will strengthen our role as the leading independent depositary for real estate funds in Germany," added Sepp.

 

About CACEIS

CACEIS is the asset servicing banking group dedicated to institutional and corporate clients. Through offices across Europe, North America and Asia, CACEIS offers a broad range of services covering  execution, clearing, depositary and custody, fund administration, middle office outsourcing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.3 trillion and assets under administration of €1.3 trillion, CACEIS is one of the world market leaders in asset servicing, the second depositary bank and the leading fund administrator for European funds (figures as of 31 December 2013).

www.caceis.com

 

Press Contacts

Claude Michaux

Deputy Group Communications Director

Tel.: +352 4767 2792

claude.michaux@caceis.com

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