Published on 11/09/2014

Societe Generale Securities Services mandated in France by CILOGER for its real estate funds

Societe Generale Securities Services has been mandated in France by CILOGER, a real estate asset manager and a major player in real estate savings products, to provide depositary and regulatory reporting services within the framework of the Alternative Investment Funds Management Directive (AIFMD).

CILOGER selected SGSS as depositary for 9 of its SCPI (French unlisted real estate vehicle), which today come within the scope of the AIFM Directive. SGSS will provide a range of services including position-keeping of assets, daily control of liquidity flows and obligatory inspections and audits.
SGSS has also been retained to provide a regulatory reporting service for 21 SCPI and OPCI (real estate mutual funds). This service, which also respects the requirements of AIFMD, involves the production and communication of regulatory reporting to the local regulator. It includes the collection of data and the preparation of reporting for the whole range of funds, as well as the production of CILOGER’s consolidated report, thus allowing the asset manager to focus fully on its core activities.
Thanks to this mandate, CILOGER will benefit from a rigorous process of controls and the recognised expertise of SGSS in the real estate sector, as well as from the security of a leading European depositary bank.
CILOGER is an SCPI and OPCI asset manager, authorised by the French financial markets authority (AMF). Created in 1984 under the aegis of the Caisse des dépôts et consignations, CILOGER is one of the first companies authorised in 2007 to manage OPCI and for almost 30 years has been a player of reference in the management of SCPI. CILOGER is a subsidiary of GCE Services Immobiliers (Caisse d’Epargne group) (45%), La Banque Postale (45%) and CNP Assurances (10%). CILOGER today manages 4 billion euros of real estate assets.