- 3 min
CACEIS selected by AXA Investment Managers Deutschland GmbH as depositary for its entire existing German real estate funds business
Following a request for proposal, AXA Investment Managers Deutschland GmbH (AXA IM Deutschland) has decided to engage CACEIS as depositary for its entire existing real estate open ended mutual and special funds business in Germany, with a total fund volume of some €2.5 billion.
"CACEIS is one of only a few service providers that is able to provide a comprehensive range of services for both mutual and special funds”, stated Matthias Leube, Managing Director of Real Estate within AXA Investment Managers Deutschland GmbH. "During our selection process, CACEIS’s wide experience in business migration as well as its status as a leading independent, third-party depositary, were decisive factors."
"Our broad range of services and our strong market reputation is derived from our group’s extensive experience in the real estate funds business," said Holger Sepp, Member of the Management Board of CACEIS Bank Deutschland. "We are delighted that AXA IM Deutschland has entrusted all its existing real estate business to CACEIS. Following this appointment, we provide depositary services for 16 real estate investment companies with a volume of some €16 billion. This significant business win further strengthens our position as the leading third-party real estate depositary bank in the German market."
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 depositary and custody, fund administration, middle office outsourcing, execution, derivatives clearing, 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, one of the largest depositary banks and the premier fund administrator in Europe (figures as of 31 December 2013).