News in brief: 23 July

- BNY Mellon has been appointed by Achmea Investment Management to provide AIFMD depositary and global custody services to nearly €19bn of investment funds.

This latest appointment extends BNY Mellon’s relationship with Achmea Investment Management, where it already provides depositary and fund administration services for a number of Achmea IM’s investment funds. Achmea CEO, Jacob de Wit, said: “We believe BNY Mellon is the right strategic business provider for us. We have a good cultural and personal fit with BNY Mellon’s team and organisation in the Netherlands. We look forward to growing a relationship based on our shared commitment to investor outcomes and service excellence.”

- Amundi has launched its Amundi Euro Liquidity Short term SRI, a short term money market fund with accumulative variable net asset value (V NAV), awarded with an SRI label and is AAAmmf-rated by Fitch Ratings.

The fund seeks to offer liquidity and security to investors through high credit quality, a strategy of diversification and flexibility. The fund is a unique socially responsible investment cash solution, awarded a French SRI label and rated AAAmmf by Fitch Ratings, offering same-day settlement with a late cut-off.

- The assets under management of Spanish private pension plans increased by 4.89 per cent in the first half of the year rising to €81,212m, according to VDOS.

It attributed the increase to a positive investment performance, generating €3,707m, added to net deposits of €79m.

The assets under management of the pension plans of the individual system increased in the semester by 4.89%, 3,786 million more than the total managed at 81,212 million. By type of entity, insurance companies and credit cooperative societies registered the highest net deposits, with €55m.

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