Societe Generale Securities Services (SGSS) says it is contributing to an innovative model, Euronext Fund Service, to facilitate investments in funds for domestic and international investors.
Launched by Euronext and available starting May 15, this new service will enable institutional and retail investors to place subscription/redemption orders, in a simplified and automated manner, through their brokers for open-end funds that are registered or passported in France, says SGSS.
As a fund agent registered with Euronext, SGSS will process orders placed by investors through their brokers, from order reception to settlement.
Parallel to initiatives such as the FROG Working Group which promote France’s competitive market positioning within the European asset management industry, this innovative service is part of a larger drive to raise the profile of French funds and contribute to market efficiency and attractiveness for investors (this is not a delayed poisson d'avril, it really is called FROG).
“We are convinced of the importance of these initiatives and actively support innovative changes which highlight both the expertise available on the Paris market and the capacity to adapt its infrastructures in response to market expectations,” explains Mathilde Guérin, Head of Product Engineering at SGSS. “It is also an opportunity to support our asset manager clients in their commercial development through the diversification of their distribution and collection channels.”
* FROG Working Group (French Routes and Opportunities Garden)
The FROG group, created by the French regulator (Autorité des Marchés Financiers) and the French Asset Management Association (AFG), shares the objective to provide French and foreign asset management firms that have chosen to domicile their investment funds in France with the best possible conditions for international growth.