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...CACEIS, meanwhile, is a custody and asset servicing business jointly owned by European banks Crédit Agricole and Santander and was the longtime custodian of H2O’s funds....
...’s operations, known as CACEIS....
...The data are also checked by officials from Caceis, a deposit bank which calculates the fund’s monthly net asset value, and Deloitte audits the final figures....
...In the past few months State Street, Northern Trust, Kneip, Société Générale Securities Services, Caceis, BNP Paribas Securities Services, RBC Dexia, SEI and Citi have all entered the race to try and win...
...However it happens, the way funds are sold to investors must improve, says the PwC/Caceis report. “This is not an option but a necessity for the industry.”...
...Press speculation to this effect has been rife, particularly after the Spanish bank BBVA stopped selling its funds....
...Sandrine Leclercq, General Counsel at Caceis, says: “Regulation was done at a time when the depository banks’ job was not as complex....
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