Nomura AM outsources German fund administration

Nomura Asset Management in Germany has outsourced the administration of its €2 billion German-domiciled funds to BNY Mellon. Nomura AM carried out the fund administration in-house and the outsourcing deal expands an existing relationship with BNY Mellon. The outsourcing centres on Nomura AM’s KAG, a German regulated capital management company, and the outsourcing also covers middle office services such as regulatory reporting. Risk controlling is included and is a service that BNY Mellon offers through a German affiliate, called BNY Mellon Service Kapitalanlage-Gesellschaft – or BNY Mellon Service KAG. BNY Mellon says further front office solutions and additional services such as collateral management will be added in the second half of this year. Thomas Brand, head of BNY Mellon’s asset servicing business in Germany, said: “The increased regulatory emphasis on transparency, accountability and consumer protection is encouraging more asset managers such as Nomura to ask for front-to-back office services.” Nomura AM, which is based in Tokyo, already uses BNY Mellon as its depositary bank in Germany. ©2016 fund europe

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