BNP Paribas SS completes Henderson fund migration

BNP Paribas Securities Services says it has finished migrating 25 former Gartmore funds on to its platform for its client, Henderson Global Investors.

Henderson took control of the funds when it bought Gartmore in a £366 million (€423 million) deal in 2011. Staff departures at Gartmore had compounded problems caused by its share price halving after its initial public offering in 2009.

BNP Paribas SS will provide custody, fund accounting, securities lending and foreign exchange services for the fund ranges, which are worth €8 billion and domiciled in the UK and Luxembourg.

James McAleenan, head of BNP Paribas Securities Services UK, Middle East and South Africa, says the deal “reinforces and consolidates our long-standing relationship with Henderson, which we have developed over the last ten years”.

©2013 funds europe

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