Phillip Capital Group, with US$30 billion in assets under custody and management, has appointed BNP Paribas Securities Services to service its Singapore-based funds. BNP Paribas Securities Services has US$9 trillion in assets under custody.
Phillip Capital Management (S) Pte Ltd (PCM) has migrated its largest SGD money market fund to BNP Securities Services Singapore. This will help the company enhance operational efficiency and fulfil its regulatory requirements. For example, the company will be able to manage, track and report on its funds in a consistent and timely fashion.
The long-term benefits will enable a standardized and scalable approach to custody services being extended into other locations for PCM. Phillip Capital Management (HK) Ltd is also working with BNP Paribas Securities Services to launch a fund in Hong Kong.
