Société Générale Securities Services in Italy (SGSS S.p.A.) has been appointed by Allianz Global Investors Fund SICAV (AGIF) to act as its local transfer agent in Italy, providing it with paying agent and investor relations management services.
AGIF is an open-ended investment company incorporated under the Laws of the Grand Duchy of Luxembourg whose assets are managed by Allianz Global Investors Luxembourg S.A.
SocGen’s Italian division has signed three other TA agreements: AllianceBernstein Sicav and AllianceBernstein FCP, Aberdeen Global and Aberdeen Global II funds, and Mantex Sicav – in the last month.
“New foreign management companies are more and more attracted by the Italian AUM Market (UCITS) thanks to the strong growth registered by AUM invested in foreign vehicles during the last 10 years,” said Elaine Kiggins, head of client product development at Société Générale Securities Services.
“The penetration of foreign management companies in the Italian market reached 65 percent of total AUM. SGSS S.p.A., as leader of the Italian local TA market, won 18 mandates in 2012 for UCITS promoted by 14 Man.Co. and is planning to get the mandates for other 10 UCITS by the end of the year.”
