Two notable European mandates for BNP Paribas:
The securities services business has been selected by Cobas Asset Management to provide depositary services for its investment funds and pension plans. BNPP will act as depositary bank for all collective investment vehicles managed by Cobas Asset Management, which includes six investment funds, one SICAV and three pension funds, representing a total of EUR2bn in assets. Cobas Asset Management is a Spain-based independent fund manager.
The securities services business has been mandated by Fondenergia, an Italy-based pension fund for workers in the energy sector, to provide depositary bank and securities lending services for its global assets. Fondenergia is a closed pension fund, established in 1996 for Italy’s energy industry workers.