Paris-headquartered custodians sweep mandate market

Three custodians with roots in France collect 13 mandates

French custodians top the tables

BNP Paribas Securities Services picked up two multi-billion dollar depository banking mandates during the past quarter, for the Antin Infrastructure Partners II fund, one of the largest European infrastructure funds, and for ASR Real Estate Investment Management and ASR Netherlands.

Under the alternative investment fund managers directive (AIFMD), which came into effect on July 22, non-Ucits funds in Europe must appoint a depository bank for cash monitoring, oversight and safekeeping of assets.