CACEIS completes Candriam鈥檚 first wave of funds migration
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CACEIS completes Candriam鈥檚 first wave of funds migration 12 May 2020Paris Reporter: Becky Bellamy
Image: Ivan Hoermann/Shutterstock.com
CACEIS has completed the first of three fund migration waves for asset management company Candriam.
The migration, which took place during COVID-19 lockdown, involved 26 Luxembourg law sub-funds accounting for 鈧�10 billion in assets.
The operation used various services from CACEIS including, depositary, custody, fund administration, transfer agency, fund distribution, securities lending and share class hedging.
Overall, in excess of 鈧�40 billion in assets will be entrusted to CACEIS.
Joe Saliba, deputy CEO of CACEIS, explains that the COVID-19 pandemic lockdown has 鈥減roven to be a real-world stress test on our migration planning and IT environment, which I am pleased to say CACEIS has passed鈥�.
Saliba adds: 鈥淥ur migration track record remains strong thanks to our extensive planning and the foresight of equipping staff for telework in 2019. Finally, I would like to thank Candriam鈥檚 staff for their professionalism and support throughout the migration process as well as Candriam鈥檚 senior management for the trust they have placed in the CACEIS group.鈥�
Pierre Ernst, COO of Candriam, says: 鈥淚n conditions never seen before, the first phase of our fund migration to CACEIS is a real feat for which I would like to congratulate the teams.鈥�
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Image: Ivan Hoermann/Shutterstock.com 