SGSS in Italy mandated by Inarcassa, a leading Italian social assistance fund
Societe Generale Securities Services (SGSS S.p.A.) in Italy has been appointed by Inarcassa, the national social assistance fund for self-employed engineers and architects, to act as its depositary bank.
Through this mandate, Inarcassa benefits from a comprehensive portfolio of services covering custody and settlement, fund accounting, trustee, portfolio analysis reporting and cash management services.
SGSS S.p.A. was retained by Inarcassa for its recognised expertise in this sector in particular for its capacity to provide clients with innovative solutions and web platforms capable of meeting their operational needs for asset monitoring, valuation and reporting. SGSS’ expertise is backed by first-rate client services and teams of professionals dedicated to accompanying clients in a constantly evolving regulatory environment.
SGSS in Italy offers a complete range of securities services to a client-base of asset managers and asset owners, financial institutions and brokers. These include settlement, custody and trustee services, fund administration, middle-office services, risk & performance, liquidity management and transfer agent services.
Established initially in 1958 as a national public body, Inarcassa is now a private organization that provides social assistance to self-employed engineers and architects. In 2014, Inarcassa has around 7 billion Euros of assets under management and around 170,000 fund subscribers, among whom 40% are under 40 and 20,000 are retirees.