Identity of the UCI depositary

The Custodian of the UCI is Crédit Industriel et Commercial, acting through its "CIC Market Solutions" department (the "Custodian"), whose registered office is located at 6, avenue de Provence, 75009 Paris, registered with the Paris Trade and Companies Register under number 542 016 381, is an institution approved by the Autorité de Contrôle Prudentiel et de Résolution (ACPR) and subject to the supervision of the Autorité des marchés financiers (AMF).

Policy on conflicts of interest

The Custodian has three types of responsibility, respectively the control of the regularity of the management company's decisions, the monitoring of the UCI’s cash flows and the safekeeping of the UCI’s assets.

The Custodian's primary objective is to protect the interests of the UCI’s unitholders/investors.

Potential conflicts of interest may be identified in particular in cases where the Management Company maintains commercial relations with the Custodian at the same time as its appointment as custodian of the UCI (which may be the case when an entity belonging to the same group as the Custodian calculates the net asset value of UCIs on behalf of the Management Company or when a group link exists between the Management Company and the Custodian).

In order to manage these situations, Crédit Mutuel Alliance Fédérale, to which the Custodian belongs, has established and updates a policy for managing conflicts of interest, which you can find at the following address:

The aim of this policy is to:

  • Identify and analyse potential conflicts of interest
  • Record, manage and monitor conflict of interest situations by:
    • (i) relying on the permanent measures in place to manage conflicts of interest, such as segregation of duties, separation of hierarchical and functional lines, monitoring of internal insider lists and dedicated IT environments;
    • (ii) implementing on a case-by-case basis:
  • (a) preventive and appropriate measures such as the creation of ad hoc monitoring lists, new Chinese walls or verifying that transactions are processed appropriately and/or informing the clients concerned;
  • (b) or by refusing to manage activities that may give rise to conflicts of interest.

List of sub-custodians

The Custodian is responsible for the safekeeping of assets (as defined in Article 22.5 of Directive 2009/65/EC as amended by Directive 2014/91/EU). In order to offer asset custody services in a large number of countries and to enable UCIs to achieve their investment objectives, the CIC delegates custody to BFCM, which has appointed sub-custodians in countries where it does not have a direct local presence. These entities are listed below.

In accordance with Article 22a 2. of the UCITS V Directive, the process for appointing and supervising sub-custodians meets the highest quality standards, including the management of potential conflicts of interest that may arise in connection with such appointments.

Updated information on the list of sub-custodians will be sent to investors on request.

List of sub-custodians/CSD/International CSD

Click here for the latest list: