ODDO BHF has broadened its service mandate for CACEIS to include administration of its Luxembourg fund range.
In 2016, ODDO BHF mandated CACEIS to handle the depositary function for its securities funds and has taken this recent step to expand the scope of services.
CACEIS began administering around 40 of ODDO BHF Asset Management LUX AG’s securities funds in July 2018.
The new service mandate includes net asset value calculation, investment restriction compliance and reporting.
Karl Stäcker, managing director of ODDO BHF Asset Management, said: "Since November 2016, CACEIS has proven both its capabilities and competence as depositary for our Luxembourg-domiciled funds.”
He added: “We are very confident and look forward to working together with our new fund administration partner, as CACEIS has extensive expertise in the area.”
Holger Sepp, member of the German branch management of CACEIS Bank, commented: "We are pleased to have been selected by ODDO BHF for their fund administration mandate in addition to our existing role as Luxembourg depositary.”
He added: “Recently, CACEIS’s one-stop-shop offer has proven to be a very attractive proposition for some of our clients. As such, we are looking forward to further expanding our services to other German clients operating a fund business out of Luxembourg.”
