SGSS to provide trustee and valuation services for « Emergence », a Paris financial marketplace fund
SGSS has been designated by the Board of Directors of the fund « Emergence », following a request for proposal.
Societe Generale Securities Services has been designated by the Board of Directors of the fund « Emergence », following a request for proposal, to provide trustee and valuation services to the delegated asset manager NewAlpha AM. « Emergence », which has 120 million euros in assets under management, is the first seed-money fund launched with the support of the Paris financial marketplace.
As a delegated fund manager, NewAlpha's mission will be to select young asset management companies to help them reach critical mass by acquiring institutional references which will facilitate their development. SGSS will thus provide the reporting required to highlight to investors the management capabilities of these companies.
In this context, SGSS has been retained, notably, for its capacity to respond to the information and reporting constraints required by institutional investors, including the requirement for transparency imposed by the Solvency II directive*.
Against the background of this directive, SGSS is developing a multiple offering with its asset management and insurer clients, where the first step is to recover financial information. This offering includes, in particular, transparent inventories, allowing for a highly accurate assessment of the investment profile of the whole portfolio, as well as the associated risk criteria.
Created in 2003, the asset manager NewAlpha is today a fully-owned subsidiary of OFI Group. With 47.2 billion euros in assets under management (as at the end of December 2011), it is one of the leading players in the French asset management market. It is recognised as the European specialist in seed-capital, an original investment solution which enables qualified investors to participate in the launch and growth of funds managed by entrepreneurial asset management companies.
* Solvency II is a European directive which aims to better adapt the solvency requirements of insurance and reinsurance companies to the real economic risks incurred by their activities.