Volvar Asset Management has appointed State Street to provide back office services for two funds domiciled in France and Luxembourg.
State Street will provide Volvar Asset Management with back office services including depot bank and fund accounting as well as value-added services for OTC derivatives.
Volvar Asset Management is a newly created asset management company specialising in quantitative investment strategies. The appointment follows Volvar's comprehensive review of service providers, and its selection of State Street in recognition of State Street's expertise and proficiency.
Nadejda Rakokska, president of Volvar Asset Management said: "In order to align ourselves with the highest standards possible, we were looking for a service provider with international renown that could help us to bring first-class investment solutions to our clients that are supported by outstanding service delivery and technology solutions. Our agreement to a partnership with State Street fits perfectly with this strategy and is based on the company's leading technology systems, depth of resources and commitment to excellence in client service."
Raphaël Remond, head of State Street's Global Services business for France said the mandate was an endorsement of State Street's investment servicing business. "The selection of State Street by Volvar AM, a new entrant to the French asset management world, is further testament to our reputation in Europe as a local player in the French market with a global footprint providing investment servicing."
