BNP Paribas SS launches depositary service

BNP Paribas SS launches depositary service

BNP Paribas Securities Service has launched an alternative investment fund management directive (AIFMD) depositary banking service.

The service is aimed at asset managers distributing non-European alternative investment funds into Europe and will help them comply with the AIFM directive.

“This offering is a subset of our full depositary service,” said Arnaud Claudon, head of depositary and fiduciary services at BNP Paribas Securities Services

BNP Paribas Securities Services will offer safekeeping, oversight and cash monitoring of assets within the service.

The AIFM directive is a European directive designed to introduce heightened security and investor protection to the European fund management landscape.

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