France

In France we specialise in the valuation of investment funds (OPCVM), Employee Investment Funds (FCPE) and institutional funds governed by French law. The premier quality of our service is reflected in our reputation as one of the market leaders in France.

Business operation: By being organised in functional groups we are able to deliver premier quality whilst optimising risk control with timely and efficient processing. Utilising external audit techniques each fund is audited every day as part of the quality control process. In addition, the flexibility of the business structure ensures that we can quickly accommodate new market practices and meet the individual requirements of each client.

Data processing and communication: Our technology has been specially developed for high-level interface with our clients. The two-way flow of data between our clients and ourselves utilises best of breed technologies and every client is able to accesses their own data in totally secure conditions.

Market data: The Market Data service not only provides the highest quality prices for quoted securities but also has specific valuation models to determine the value of non-quoted securities and financial instruments. The pricing database utilises the best prices from the principal market data suppliers which include Bloomberg, Fininfo, Investdata and Reuters. In addition, it has a sophisticated system for automatic recovery and integration of prices. The quality and rich content of the pricing database is one of the market leaders in the valuation industry.

People: The experience, expertise and enthusiasm of our team are one of our key competitive advantages. Our focus on our people and the continuous investment in their training is reflected in the high quality of our service.

Reconciliation: Cash and stock accounts (including derivative products) are reconciled by means of electronic statements communicated in the form of Etebac, SWIFT or other standard file formats utilising sophisticated internally developed reconciliation tools.

Risk control: Our expertise in the assessment and management of processing risk is well recognised in the industry. The continuous development of our risk control processes and procedures plus the reliability and quality of the teams, which utilise them, reflect our highly developed risk management culture.

Statutory reporting: We can provide all of the periodic reports, Banque de France statistics, compliance and breach reporting and the publication of net asset values for our clients. We also provide all the periodic documents and reports required by the regulatory authorities. We also provide the principal statutory, prudential ratios and specific breach reports after every valuation.

Valuation: We value all types of investment funds and institutional funds, based on specific procedures for each client, eg trade input can be on execution or confirmation and valuations can use opening or closing prices. All valuations are carried out in accordance with their specific legal requirements and are based on best market practice. Funds can be valued at any time from very early in the morning to late in the evening.

For more information on HSBC's Fund Administration Services, please contact our Fund Administration team