Ellipsis Asset Management has mandated Societe Generale Securities Services (SGSS) for its ‘swing pricing’ offer that covers a selection of funds in France.
Swing pricing enables the net asset value to be calculated in a way that assures more equality among shareholders by reducing the dilution effect related to significant subscription or redemption movements.
In the absence of such a mechanism, the costs of readjusting the fund would be borne by shareholders who are already in the fund, whereas the costs are actually caused by the movements of other investors, namely those entering the fund or withdrawing from it.
Ellipsis Asset Management is among the first asset managers in France to put a swing pricing mechanism in place. SGSS was selected for its recognised expertise in this area and for its capacity to offer, in a short period of time, a robust and secure solution adapted to the French market.
