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SEB Fund Services sub-contracts fund administration to EFA

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SEB Fund Services, a subsidiary of the Swedish bank Skandinaviska Enskilda Banken, has decided to sub-contract its fund administration services to European Fund Administration in Luxemb

SEB Fund Services, a subsidiary of the Swedish bank Skandinaviska Enskilda Banken, has decided to sub-contract its fund administration services to European Fund Administration in Luxembourg.

Under the agreement EFA will provide SEB Fund Services fund accounting, transfer agency, risk and compliance services, together with support for distributing its funds.

The transfer of SEB Fund Services funds to EFA’s administrative and accounting platform lasted four months and is now completed. The funds involved totalled EUR1.6bn across a broad spectrum of 59 products.

Ann-Charlotte Lawyer, managing director of SEB Fund Services, says: ‘This agreement means SEB Fund Services has a complete offer which meets market expectations for increasingly sophisticated products and which also gives us the opportunity to grow and improve our cross-selling activity with all the services of the SEB group.’

Thomas Seale, president of EFA’s executive committee, adds: ‘SEB Fund Services is a prestigious partner for EFA as it enjoys a solid reputation in the international financial markets and constitutes a single gateway for promoters in the North European zone. This mandate confirms our strategy of offering quality services together with ‘Partner Custodians’ on an international basis.’

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