London
16 February 2017
Reporter: Stephanie Palmer

CACEIS wins Swiss depository mandate


Swiss boutique Bellevue Group has selected CACEIS to provide depository services for its UK investment trust, the BB Healthcare Trust.

The trust launched on the London Stock Exchange on 2 December 2016, with an initial issue volume £150 million.

Services will be ensured by CACEIS’s UK depository banking branch. CACEIS opened its London office in July 2016, and earlier this month received regulatory authorisation to provide depository services to UK UCITS funds.

André Rüegg, CEO of Bellevue Asset Management, said: “Following an intensive selection process in close collaboration with the board of trustees, we are confident that we have selected the best suited service provider for the BB Healthcare Trust.”

“CACEIS has extensive depositary experience in Europe and its London branch has demonstrated its capacity to handle our specific requirements in terms of UK depositary services.”

Joe Saliba, deputy CEO of CACEIS, said: “We are delighted to welcome Bellevue to the growing list of clients of our UK depositary bank. Our London-based depositary operation has met with considerable success, enabling us to effectively export our recognised expertise in depositary services to the UK asset management community.”

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