BNP Paribas to offer fund administration service to Equinox
BNP Paribas has reached a deal with US alternative asset manager Equinox Fund Management (Equinox) to deliver fund administration services.
BNP Paribas administers a platform of independent fund vehicles accessed by mutual funds sponsored by Equinox.
Equinox president and CEO Bob Enck said that BNP Paribas' capabilities allow their mutual funds to meet the strict reporting requirements mandated in this highly regulated industry.
"Furthermore, their global credentials and world-class platform serve as powerful reassurances at a time when asset safety could not be more important," added Enck.
BNP Paribas' application captures and values trades in real-time, producing a net asset valuation (NAV) on the same day, which is then used by Equinox-sponsored mutual funds as part of the process to strike their own NAVs on a daily basis.
BNP Paribas said this daily-NAV offering provides the transparency required to value alternative fund investments in the regulated mutual fund marketplace.
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