- 3 min
Mobiliar Asset Management engages CACEIS to administrate Swiss real estate fund
Swiss Mobiliar Asset Management Ltd., the Asset Management division of leading Swiss private insurance company, Mobiliar Group, has engaged CACEIS (Switzerland) SA to administer its new Swiss-law real estate fund called MobiFonds Swiss Property. The fund will invest in the development of a high quality Swiss real estate portfolio preferably in strong economic centres and their agglomerations. The Fund is open exclusively to subscriptions from institutional investors, and will launch on 15th March 2013.
Commenting on the deal with CACEIS (Switzerland) SA, Stefan Mächler, Managing Director of Swiss Mobiliar Asset Management Ltd. and Chief Investment Officer of the Mobiliar Group said, “We made a thorough assessment of the business proposal received from CACEIS (Switzerland) SA for our new MobiFonds Swiss Property fund and decided to award the administration mandate to CACEIS on the quality of the service offer and the firm's experience in administering Swiss real estate investments. We believe this is the right decision for Mobiliar Asset Management as well as for our investors.”
Philippe Bens, Managing Director of CACEIS (Switzerland) SA stated, “We are delighted that Swiss Mobiliar Asset Management Ltd. has awarded CACEIS the mandate to administer the MobiFonds Swiss Property real estate fund. We believe that our broad service range, robust technology and experienced staff are key to winning such mandates and to maintaining our position as the leading administrator of real estate funds on the Swiss market. We look forward to strengthening our partnership with Swiss Mobiliar Asset Management Ltd. over the coming years.”
CACEIS is the asset servicing banking group of Crédit Agricole 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, derivatives clearing, forex, securities lending, fund distribution support and issuer services. With assets under custody of €2.5 trillion and assets under administration of €1.3 trillion, CACEIS is one of the world market leaders in asset servicing and the largest depositary bank and the premier fund administrator in Europe (figures to 31 December 2012).
About Swiss Mobiliar Asset Management Ltd.
Swiss Mobiliar Asset Management Ltd. is a subsidiary of Swiss Mobiliar Holding AG. Having received approval from FINMA at the end of 2012, took over the management of the MobiFonds 3a Strategiefonds at the start of 2013. In addition, Mobiliar Asset Management will also take over the management of the Luxembourg-law MobiFonds Select 20, 50 and 90, which will be redomiciled to Switzerland by mid-2013. Mobiliar Asset Management currently manages assets of around CHF 16 billion, of which about CHF 1.8 billion is in direct property investments. The Mobiliar Group, with approximately 180 properties and more than 3,300 tenants, is one of the leading private building owners in Switzerland.