London
21 September 2017
Reporter: Jenna Lomax

Pension fund mandate for BNP Paribas


BNP Paribas has been appointed to provide global custody for £3 billion in pension fund assets for the West Sussex Pension Fund.

The West Sussex Pension Fund is the fifth appointment BNP Paribas has secured under the Local Government Pension Schemes (LGPS) National Framework Agreement.

Along with global custody services, BNP Paribas will provide investment accounting, investment reporting and performance services.

Jeremy Hunt, pension panel chairman at the West Sussex Pension Fund, said: “We were impressed by the expertise of the individuals we worked with and the technology underlying its services—particularly BNP Paribas’s reporting tools, such as its data navigation analysis system.”

Sid Newby, head of business development for the UK at BNP Paribas securities services, commented: “The UK pension market is currently undergoing significant change and we are committed to helping schemes facilitate and benefit from this.”

“We are big supporters of the LGPS initiative and engaged early on with local authorities and their consultants as they were assessing various operating models.”

More fund services news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
SimCorp selected by German pension fund
19 February 2018 | Berlin | Reporter: Jenna Lomax
SimCorp Dimension has been selected by Soka-Bau, a German pension fund, to manage its new front to back office investment management platform
Sino selects PFS-PAXUS fund administration software
16 February 2018 | Hong Kong | Reporter: Jenna Lomax
PFS-PAXUS offers a back-office fund accounting, portfolio valuation, fund pricing and transfer agency administrative solution on a single, fully integrated system
Blue Point Capital partners with PEF Services for fund administration
15 February 2018 | New Jersey | Reporter: Jenna Lomax
PEF Services will provide fund administration services to Blue Point to scale operations and support the firm’s growth
NSD offers clients opportunity to settle transactions via ICSDs
14 February 2018 | Moscow | Reporter: Jenna Lomax
The National Settlement Depository, Russia's central securities depository, has launched a new service to open individual accounts with international clearing systems
Maitland chosen as fund administrator for two Guernsey-domiciled funds
06 February 2018 | St Peter Port | Reporter: Jenna Lomax
Maitland will provide both firms with fund administration and company secretarial services
BNP Paribas reports ‘excellent business drive’ in 2017
06 February 2018 | London | Reporter: Jenna Lomax
BNP Paribas’s end-of-year report showed that 2017 was a year of strong growth in assets under custody and assets under administration
Havelock London selects Link Asset Services as fund manager
01 February 2018 | London | Reporter: Becky Butcher
Link’s appointment as authorised fund manager follows a series of new wins for Link’s fund solutions team
More fund services news