CANDRIAM announces the upcoming migration of asset servicing activities (custody, fund administration, transfer agency) for its Luxembourg and French funds to CACEIS. This decision is part of CANDRIAM's strategic roadmap for 2030, which paves the way for further growth in investment and client service activities.
CANDRIAM’s successes include doubling its assets under management since 2014, largely due to its long-term vision, the performance of its products , and the ongoing drive to anticipate clients’ needs through innovation. This new partnership with CACEIS will support CANDRIAM to broaden its asset management offerrings, especially in terms of ESG, continue its international expansion, embrace the digital transformation of our industry, and remain focused on clients’ needs.
Pierre Ernst, COO of CANDRIAM, says: “Due to the increased complexity of the market, asset managers need strategic partnerships throughout the value chain. CACEIS impressed us with their service offer, their digital roadmap, their knowledge of institutional clients and their needs, and finally their growth dynamics. This is a new step in CANDRIAM’s strategy and we will implement it with the greatest care for our clients.”
Joe Saliba, Deputy CEO of CACEIS, says: “We are delighted to strengthen our strategic partnership with CANDRIAM and support their international business development objectives by providing a broad range of services. We are convinced that CANDRIAM and their clients will benefit from our services, which will enable them to enhance the scale and increase the efficiency of their business. CACEIS will draw on its in-depth migration experience to ensure a smooth transition and uninterrupted services during the migration period.”
The migration is expected to start at the end of March 2020, following regulatory approval. It will take place in three waves and is anticipated to be completed by October 2020. The migration covers the full range of CANDRIAM’s funds domiciled in Luxembourg and France. CANDRIAM will also announce the change in transfer agent in an investor notice and in the updated fund prospectuses.
The migration will have no effect on investment policies or teams. Client portfolios will continue to be managed by the same portfolio managers and according to the same investment policies. The migration mainly concerns institutional investors and distributors. End investors and asset owners will generally not be affected and will not have to make any changes in advance of or after the migration.