23/01/2012 Author: Will Wainewright

BNP Paribas invests in admin offering

BNP Paribas Securities Services is embarking on a “major investment programme” aimed at expanding its hedge fund and fund of hedge funds administration service.

The custody bank, whose admin division services single-manager hedge fund assets worth $40bn, placing it 19^th in HFMWeek’s most recent survey, made the announcement in a statement today.

The unit will now be able to support managers using all current strategies, “including high volume trading”, and will offer “improved transparency” and “comprehensive fund reporting”.

Chris Adams, who was recently appointed as head of hedge fund solutions, said: “This investment programme, now live, was conceived specifically to meet these requirements by taking a more menu-driven approach – helping managers launch funds quickly, measure counterparty exposure and exert greater control.”