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BNP Paribas wins LatAm mandate

13 March 2014


Axa IM wants to make its funds available to investors in Latin America

BNP Paribas Securities Services has won an extended mandate to provide Axa Investment Managers (Axa IM) with settlement agency services in Latin America.

The service will be provided to Axa through the custody bank's  membership to the National Securities Clearing Corporation (NSCC) regional clearing platform. This will allow Axa to make its fund ranges accessible to the largest brokers in the region.

Axa IM is catching on the growing trend for fund managers distributing into the Latin American region. Investors and local regulators are becoming ever more open to opportunities to connect local investors with inbound international funds, according to BNP Paribas. This step is part of AXA IM's ongoing efforts to expand its geographical footprint.

Joseph Pinto, chief operating officer, at AXA IM, said: 'Latin America is a key target market for us as the doors into the region are opening."

The firm has extended its - client service platform - 'Offer to meet Needs Everywhere' (ONE) to the region. 

 "BNP Paribas has shown constant support in our international expansion, providing expertise in regulatory change and distribution trends locally. We are pleased to be partnering with them in our efforts to make our funds available to investors in Latin America."

Jean Devambez, head of asset and fund solutions, BNP Paribas Securities Services said that although European asset managers want to enter the region, there are several barriers that are causing them to hesitate. "We believe that a fuller understanding of the region will allow many more managers to take advantage of the opportunities there."

He added: "Latin America has become a hot spot for fund distribution, attracting a growing number of foreign funds and asset managers attempting to capture rapidly growing local interest in foreign securities. We understand the challenges our clients face when entering new markets, and look to stand by them throughout the process."


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