SOURCE: BNP Paribas

BNP Paribas

January 30, 2012 11:48 ET

Equinox Selects BNP Paribas for Fund Administration in the United States

NEW YORK, NY--(Marketwire - Jan 30, 2012) - BNP Paribas today announced that, following a competitive tender, it has implemented a mandate to provide fund administration to Equinox Fund Management (Equinox), a leading US alternative asset manager with more than USD 1.5 billion in assets under management.

BNP Paribas administers a platform of independent fund vehicles accessed by mutual funds sponsored by Equinox. BNP Paribas' solution captures and values trades in real-time, producing a Net Asset Valuation (NAV) on the same day. Equinox-sponsored mutual funds then use this NAV as part of the process to strike their own NAVs on a daily basis. This daily-NAV solution provides the necessary transparency required to value alternative fund investments in the regulated mutual fund marketplace.

Commenting on the services provided by BNP Paribas, Bob Enck, president and chief executive officer at Equinox, said, "The decision to invest in these vehicles was critically influenced by the fact that they were administered by a best-in-class fund administrator. BNP Paribas' capabilities allow our 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."

Commenting on the deal, Andrew Dougherty, head of alternative and institutional solutions at BNP Paribas Securities Services, said, "We're pleased to have won this new mandate and see it an illustration of our commitment to US fund managers.

"Alternative managers are increasingly using mutual fund structures to offer their core alternative strategies to individual investors because the structure offers more transparency and liquidity to end investors. Whether through *40 Act Funds in the United States, UCITS in Europe, or other domiciles around the world, we are ready to support them."

*The Investment Company Act of 1940 (the "Investment Company Act") is what gives structure to the mutual fund industry. The Investment Company Act provides very strict regulations for entities which are "investment companies" such as mutual funds.

About BNP Paribas

BNP Paribas (www.bnpparibas.com) is one of the best rated banks in the world*. The Group has a presence in more than 80 countries and more than 200,000 employees, including more than 160,000 in Europe. It ranks highly in its three core activities: Retail Banking, Investment Solutions and Corporate & Investment Banking. In Europe, the Group has four domestic markets (Belgium, France, Italy and Luxembourg) and BNP Paribas Personal Finance is the leader in consumer lending. BNP Paribas is rolling out its integrated retail banking model across the Europe-Mediterranean zone and boasts a large network in the western part of the United States. In its Corporate & Investment Banking and Investment Solutions activities, BNP Paribas also enjoys top positions in Europe, a strong presence in the Americas and solid and fast-growing businesses in Asia.

*Rated AA- by Standard & Poor's.

About BNP Paribas Securities Services

BNP Paribas Securities Services, a wholly-owned subsidiary of the BNP Paribas Group, is a leading global custodian and securities services provider backed by a strong universal bank (rated AA- by Standard and Poor's). It provides integrated solutions to all participants in the investment cycle including the buy-side, sell-side, corporates and issuers.

The bank has a local presence in 32 countries across five continents, effecting global coverage of more than 100 markets. It partners with clients to help overcome complexity, while offering a one-stop shop for all asset classes, both onshore and offshore, around the world.

Key figures as at 30 September 2011: USD 6,362 billion of assets under custody, USD 1,128 billion of assets under administration, more than 6,500 administered funds and 7200 employees.

BNP Paribas Securities Services is a société en commandite par actions (partnership limited by shares) incorporated in France, with limited partners with limited liability and one general partner with unlimited liability, with its registered office at 3, rue d'Antin - 75002 PARIS - Paris Trade Register B552 108 011 RCS.

BNP Paribas Securities Services is authorised and supervised by the Autorité de Contrôle Prudentiel (ACP) and by the Autorité des Marchés Financiers (AMF). BNP Paribas Securities Services London branch is authorised by and subject to limited regulation by the Financial Services Authority for the conduct of its investment business in the United Kingdom; details on the extent of our regulation by the Financial Services Authority are available from us on request. BNP Paribas Securities Services London Branch is also a member of the London Stock Exchange. BNP Paribas Trust Corporation UK Limited and Investment Fund Services Limited are authorised and regulated by the Financial Services Authority.BNP Paribas Securities Services, London Branch is registered in England and Wales under No. FC023666.

The services described in this document, if offered in the U.S., are offered through BNP Paribas and its subsidiaries and its affiliates. Securities products are offered through BNP Paribas Securities Corp., a subsidiary of BNP Paribas, a broker-dealer registered with the Securities and Exchange Commission and a member of SIPC, the Financial Industry Regulatory Authority, New York Stock Exchange and other principal exchanges.

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