CACEIS in Germany mandated by Axxion to provide depositary services and cross-asset market solutions
Luxembourg-based management company Axxion S.A. recently decided to extend its existing partnership with CACEIS by transferring nine of its funds to CACEIS in Germany. These funds are open-end special AIFs, regulated under German law, including assets such as equity, bonds, derivatives and target funds. CACEIS will provide depository & custody services as well as FX trading, fund execution, and execution & clearing for exchange traded derivatives; the total volume equates to some €1 billion in assets. Starting in August 2020, the migration was executed in three waves to ensure a smooth and controlled onboarding of the funds.