CACEIS is market leader in Germany for depositary services to closed-ended funds following numerous mandate wins

Over the past 12 months, CACEIS was awarded some 24 new depository service (Verwahrstelle) mandates in Germany in the closed-ended fund sector. In addition to those mentioned in previous press releases, these wins include well-known asset management firms such as Doric, Hahn and Signa.

Closed-ended fund managers in Germany have recently undergone a period of restructuring led by the AIFM Directive which was implemented in July 2013. CACEIS offers a range of fully-compliant AIFMD services to private equity and real estate funds including aviation, renewable energy and shipping containers. AIFMD restructuring, together with the ongoing trend of outsourcing non-core business activities, has opened up many new opportunities for CACEIS to provide support services that go beyond traditional fund depositary services.

According to Holger Sepp, Co-Head and Board Member of CACEIS in Germany, "We have paid close attention to the needs of the closed-ended funds over the past few years, as CACEIS is already the leading independent depository for open-ended real estate funds in the German market. This significant number of mandate wins for closed-ended funds is largely due to the CACEIS Group’s strong commitment to the private equity and real estate community as well as the German office’s specific expertise and ability to provide customised servicing solutions.”

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 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).

www.caceis.com