LEGAL INFORMATION – UK

BNP PARIBAS ASSET MANAGEMENT Holding

Registered with the Paris Registry of Commerce and Companies under number 682 001 904 as a Limited Company with share capital of 23 041 936 euros. Registered office: 1 Boulevard Haussmann, 75009 Paris
Postal address: TSA 47000/75318 PARIS CEDEX 09
Phone: 00 33 1 58 97 25 25
Senior Editor of the Site: Frédéric Janbon
EU TVA : FR50682001904

The site is hosted by BNP PARIBAS ASSET MANAGEMENT France

REGULATORY

BNP PARIBAS ASSET MANAGEMENT UK Limited is authorised and regulated by the Financial Conduct Authority. It is registered in England under No: 02474627, its registered office is located at 5 Aldermanbury Square, London, England, EC2V 7BP, United Kingdom.

The material produced in this section is for information purposes only and does not constitute: 1/ an offer to buy nor a solicitation to sell, nor shall it form the basis of or be relied upon in connection with any contract or commitment whatsoever or 2/ investment advice.

BNP Paribas Asset Management is the investment management arm of BNP Paribas, one of the world’s major financial institutions.

The Financial Services and Market Act 2000 (FSMA) came into force on 1 December 2001. This brought the regulation of most financial services companies into the remit of the Financial Services Authority (FSA) – now the Financial Conduct Authority (FCA).

BNP PARIBAS ASSET MANAGEMENT UK Limited’s regulatory information held by its supervisory authority is published on the Financial Conduct Authority Financial Services Register. The online Financial Services Register is a public record of financial services firms, individuals and other bodies regulated by the FCA. In this register, there is information on BNP Paribas Asset Management UK Limited which relates to its regulatory authorisation, the registration of the regulated activities it conducts and the provision of certain regulated products or services in the UK. Please visit the online Financial Services Register for further information.

Sourcing CDI assets:

Sourcing of CDI assets may prove difficult, especially since many asset managers are chasing the same type of assets. The available assets may not meet the client’s objectives or may not be attractively priced. The ramp up period can be long for large CDI investments and necessitate the use of synthetic CDI portfolios.

Liquidity risk:

There is a risk that CDI assets may become illiquid if the economic or market situation deteriorates. Consequently, it may not be possible to sell or buy CDI assets at all or quickly enough before their expiry.

Mark-to-market risk:

Given the illiquid nature of CDI assets, their mark-to-market may be adversely affected by changing market conditions.

CDI portfolio risk:

Because of the inherent complexity of such a strategy and the lack of liquidity of some CDI assets, a CDI portfolio may not always deliver the expected cash flows.

Basis risk:

By nature, there is a difference between pension liability cash flows and CDI assets. It is important to keep this aspect in mind when structuring a CDI portfolio in order to minimize basis risk .

Governance risks:

Given the multiple CDI asset classes and the potentially long ramp up period, the required level of governance is quite high and can involve performance, risk, trigger and exposure monitoring as well as the use of synthetic CDI assets. Assessment of relative value between synthetic proxies and real assets may also need some governance. Not providing the appropriate level of control and governance could negatively impact the long-term performance of the CDI strategy.

Complaints procedure

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Pillar 3 remuneration disclosures

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