Source: BNP Paribas
Acropole Asset Management (Acropole AM), the first investment manager in France exclusively dedicated to the management of convertible bonds, has selected BNP Paribas Securities Services (BNP Paribas) as global custodian and fund administrator.
BNP Paribas will also provide investment compliance monitoring and transfer agency services to Acropole AM.
Created in September 2006, Acropole AM currently manages approximately EUR 180 million, predicted to grow to EUR 800 million by the end of 2008.
Commenting on the appointment, Nathalie Sabathier, Director of Strategic Development at Acropole AM, said: "Our goal is to become a leader in the management of convertible bonds in Europe. To accompany our growth we were looking for a securities services partner who had a strong presence in European and international markets, a broad range of services and a proven track record. BNP Paribas was able to meet our needs in all these areas."
Bernard Blaud, Head of Sales for BNP Paribas Securities Services in France, added: "We are delighted with our new partnership with Acropole AM. This mandate underlines our commitment to accompany our clients' business development, and to deliver innovative solutions to needs that are continuously evolving."