SGSS secures French insurance mandate
Societe Generale Securities Services (SGSS) has been selected by French insurance company IP Valmy to provide custody, depository and valuation services for about €800 million in assets under custody.
IP Valmy’s funds were previously managed by about 10 different asset management companies. It selected SGSS because of its expertise as a custodian and depository, and its experience in the valuation of financial assets. It also paid particular attention to its ability to provide standardised data.
The mandate illustrates the growing need for the valuation of financial instruments for improved transparency in portfolios, as well as the increased levels of data required by regulators.
