RBC Investor & Treasury Services, part of Royal Bank of Canada has been appointed as custodian and fund administrator by OGEO FUND, for its newly-created Belgian institutional Sicav, OGESIP Invest.
RBC Investor & Treasury Services, through its Belgian office, will provide the OGESIP Invest Sicav with custody, fund administration, shareholder services, as well as additional services covering domiciliation, payments and transaction support.
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OGEO Fund is the fifth largest pension fund in Belgium, managing first pillar (statutory) and second pillar occupational pensions for public and parapublic organisations such as cities and municipalities, provinces and municipal communities. OGEO FUND currently manages over 900 million euros of assets for more than 4,000 beneficiaries of annuities among its eight associated companies.
Emmanuel Lejeune, member of the OGEO FUND management committee and director of the new Sicav, said: "OGEO FUND always adopts a prudent and diversified approach to asset allocation and the OGESIP Invest Sicav will provide us with an enhanced governance and control structure in the future. RBC Investor & Treasury Services was therefore an appropriate appointment thanks to its strength and solidity as a counter party, the importance it places on risk and controls, along with its recognised expertise in supporting the creation of new fund structures."
Sébastien Danloy, managing director, Continental Europe & Offshore, RBC Investor & Treasury
Services, said: "This is an important mandate with one of the leading pension funds in Belgium. We are delighted to support OGEO FUND with our expertise as they increase their investment and reporting controls to accompany their strong growth in assets under management."
In Europe, RBC employs almost 6,000 employees and is active in nine countries including Belgium, UK, Channel Islands, France, Ireland, Italy, Luxembourg, Switzerland and Spain. RBC’s Capital Markets, Wealth Management and Investor & Treasury Services operations provide a focused set of products and services to corporations, institutional investors, governments and high net worth individuals across the region.
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