CILOGER has granted a French real estate fund mandate to Societe Generale Securities Services (SGSS) to provide depositary and regulatory reporting services within the framework of the Alternative Investment Funds Management Directive (AIFMD).
SGSS has been selected by real estate asset manager CILOGER for 9 of its SCPI (French unlisted real estate vehicle), which has come into the scope of AIFMD.
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SGSS said that it will also provide a range of services including position-keeping of assets, daily control or liquidity flows and obligatory inspections and audits to CILOGER.
Additionally, SGSS will provide a regulatory reporting service for 21 SCPO and OPCI (real estate mutual funds), which will adhere to AIFMD and involves the production and communication of regulatory reporting to the local regulator.
The regulatory reporting service will also include the collection of data and the preparation of reporting for the whole range of funds, as well as the production of CILOGER’s consolidated reports.
The partnership will enable CILOGER to benefit from a rigorous process of controls and the recognized expertise of SGSS in the real estate sector, as well as from the security of a European depositary bank.
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