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SGSS in France wins new mandate from Swiss Life Asset Managers Luxembourg

20/02/2020

The Luxembourg-based management company Swiss Life Asset Managers Luxembourg has mandated Societe Generale Securities Services (SGSS) to take over its Local Representative Agent (LRA) and Local Transfer Agent (LTA) activities.

This new mandate strengthens the partnership between the Swiss Life Group and SGSS. The LRA/LTA activity for Luxembourg funds distributed in France, previously carried out by Swiss Life Banque Privée, is therefore migrating to SGSS. The scope of the migration includes 19 Luxembourg funds distributed in France.

Yolène Retiga, Fund Engineer at Swiss Life Asset Managers Luxembourg, says:

We have chosen to outsource this service to SGSS, with whom we have a long-standing relationship, due to their international expertise in fund distribution support and transfer agent services, as well as their ability to support our development in this area through a comprehensive and personalised service. 

With more than 160 years of experience, the Swiss Life Group is the leading provider of comprehensive life insurance, pension and financing solutions. Its asset management entity is one of the 100 largest European asset managers. It is the third largest institutional asset manager in Switzerland and the leading European institutional real estate asset manager.

 

* LRA: Local Representative Agent: the Regulator (AMF) requires the appointment of a French intermediary, the LRA, for foreign funds distributed to French tax residents. This intermediary must be a regulated institution (bank or asset management company). This requirement mainly concerns UCITS funds.


** LTA: Local Transfer Agent: the local transfer agent in France fulfils the role of centralising agent in France for subscription and redemption orders of foreign Swiss Life funds for which it has been mandated.