Luxembourg-based management company Axxion S.A. recently decided to extend its existing partnership with CACEIS by transferring nine of its funds to CACEIS in Germany. These funds are open-end special AIFs, regulated under German law, including assets such as equity, bonds, derivatives and target funds. CACEIS will provide depository & custody services as well as FX trading, fund execution, and execution & clearing for exchange traded derivatives; the total volume equates to some €1 billion in assets. Starting in August 2020, the migration was executed in three waves to ensure a smooth and controlled onboarding of the funds.
Axxion is specialised in setting-up and managing private label funds and is a long-term client of CACEIS in Luxembourg. Axxion has now selected CACEIS in Germany because of its strong cross-border connections, the wide range of products and services on offer, as well as its extensive knowledge of the international market.
Martin Genannt, Head of Business Development at Axxion, stated: "We were looking for an additional strong partner with whom we can implement projects where, in addition to individual service, there is also a wide range of product offerings and capabilities. With CACEIS, we have now found this partner for our cross-border activities in Germany and look forward to a good cooperation.”
“Axxion has extensive know-how and a strong network in the market”, added Robert Pietzka, Head of Relationship Management, CACEIS in Germany, responsible for Asset Managers and Asset Owners. “As a leading service provider, CACEIS is proud to be working now with Axxion also in Germany and to provide ongoing support for their business development objectives.”