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Editorial

 

No meeting involving participants in the European investment industry and the sub-industries which service its needs would be complete without multiple discussions on the ever-changing regulatory environment.

Ever since the events that became the international financial crisis began to unfold in the summer of 2007, culminating in the collapse of Lehman Brothers in September 2008, investment managers and their suppliers have had to cope with multiple uncertainties and the threat of additional costs.

Both inevitably feed through and impact the service provided to end-investors - sometimes negatively but often surprisingly positive. If the need to re-engineer existing solutions helps to present the opportunity to remove one or more layers of complexity and cost from the pre-trade, execution and post-trade processes, that can deliver greater efficiencies and lower overall costs.

This relaunch issue of Momentum, the SGSS client news and comment service, tackles the hydra-esque topic usually referred to as the AIFMD (Alternative Investment Fund Manager Directive).

In these pages we have tried to convey the readiness of our industry for this landmark regulation, which is scheduled to be transposed into European Union member state law from July 22 this year. We have taken soundings from SGSS clients as well as our own internal experts on the challenges they face and the changes they have made.

Topics addressed include the underlying principles guiding the AIFMD, the likely changes in the fund distribution landscape, the implications in terms of cost and technology, and the differences and similarities between it and UCITS V.

In areas beyond AIFMD we take a brief look at the continuing reshaping of markets in central and Eastern Europe, and the likelihood that the latest phase in consolidation of the securities services industry there could prompt some investors to review their existing arrangements for custody and other services. Regular readers will find familiar features, albeit in a slightly revised form, and new features which have been conceived and commissioned specifically to ensure the new look meets the demanding targets placed upon it by all at SGSS.

Apr
2017
SGSS innovates with Euronext to provide a new fund investment solution
SGSS is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and...
Fund Administration and Asset Servicing
SGSS is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and international investors.
en/newsroom/news/news/news/sgss-innovates-with-euronext-provide-new-fund-investment-solution/
Apr
2017
Fighting poverty and striving for women empowerment
Mar
2017
SGSS strengthens its coverage team across Southern Europe
SGSS has appointed Lucrezia Brucoli as Head of Coverage to support business development across Southern Europe.
Appointments
SGSS has appointed Lucrezia Brucoli as Head of Coverage to support business development across Southern Europe.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-team-across-southern-europe/
Feb
2017
Quarterly Financial Information
2016: HEALTHY GROWTH IN GROUP NET INCOME
Results
2016: HEALTHY GROWTH IN GROUP NET INCOME
en/newsroom/news/news/news/quarterly-financial-information-2/
Jan
2017
SGSS in Italy launches Synapse, a new service to support fund distribution
Societe Generale Securities Services in Italy (SGSS S.p.A.) launches SYNAPSE, a new service to support fund distribution...
Jan
2017
SGSS strengthens its Coverage, Marketing and Solutions team
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering...
Appointments
SGSS has appointed Matthew Davey as Managing Director and Head of Business Solutions to reinforce its service offering for institutional investors, asset managers, financial intermediaries and corporates.
en/newsroom/news/news/news/sgss-strengthens-its-coverage-marketing-and-solutions-team/
Dec
2016
Altana Wealth Limited selects SGSS in Ireland for its UCITS fund structure
Altana Wealth Limited in the United Kingdom has appointed Societe Generale Securities Services (SGSS) in Ireland to...
Nov
2016
Vatel Capital appoints SGSS to provide custody, depositary bank and valuation services
Introduced by the Finance Law in 2007, FIP Corse is a local investment fund of which 70% of its assets are invested in...
SGSS
Introduced by the Finance Law in 2007, FIP Corse is a local investment fund of which 70% of its assets are invested in small and medium-size enterprises on the French island of Corsica. The purpose of FIP Kallisté Capital n°9 is to invest in Corsican SMEs whose main activities are in the tourism, renewable energy, health and dependency, agro-food or business...
en/newsroom/news/news/news/vatel-capital-retient-sgss-pour-fournir-des-services-conservation-banque-depositaire-valorisation/
Nov
2016
SFIL appoints SGSS for global custody services
SFIL, the leading French local public sector and export financing agency, and CAFFIL, a French specialized credit...
SGSS
SFIL, the leading French local public sector and export financing agency, and CAFFIL, a French specialized credit institution (société de crédit foncier), have mandated Societe Generale Securities Services (SGSS) to provide global custody services for their public sector assets in Europe. This extends an existing mandate for valuation services with SFIL in...
en/newsroom/news/news/news/sfil-appoints-sgss-for-global-custody-services/