EDHEC-Risk and CACEIS set up research chair on risk and regulation in the European fund management industry

EDHEC-Risk and CACEIS have announced the creation of a new research chair on ‘Risk and
Regulation in the European Fund Management Industry,’ through which EDHEC researchers will
develop solutions to the major risks currently faced by the asset management industry in Europe. The
chair will be headed up by Noël Amenc, director of EDHEC-Risk.
According to Professor Amenc, “The financial crisis that we have been experiencing for the last two
years has had some unprecedented consequences for the fund management industry. Up until now,
financial crises only had negative consequences on the revenues of industry players by affecting the
volume of assets managed on behalf of investors, with the latter being alone in bearing the risks of
their investment. The most recent crisis has impacted not only the revenues, but also the operating
expenses of third-party asset managers. Fund management firms and their service providers have had
to take on some of the costs relating to the risks of the investments that they manage, conserve, price
or audit. More specifically, this crisis is synonymous with a transfer of a portion of investor risk
towards the providers of investment and related services.”
“The current period is a critical one for the European fund management industry because the
responsibilities of the various actors in the industry have not always been clearly defined. As one of
the leading asset servicing providers in the world, CACEIS is well aware of the importance of these
issues for our clients and we are convinced that our partnership with EDHEC-Risk will provide
solutions to measure, price and allocate the risks of all industry players. EDHEC-Risk has a proven
track record of providing valuable applied research to the industry and we are delighted to continue
our long-term association with their research team within the framework of this chair,” added François
Marion, Chief Executive Officer of CACEIS.
“The purpose of this research chair is to analyse the major risks faced by the main actors in the
European fund management industry due to their practices and the regulations; measure the
importance of these risks and their impact on the actors’ solvency and business models; and propose
rules and solutions that will enable the risk of the actors in the fund management industry to be
limited,” concluded Noël Amenc.

About CACEIS
CACEIS is a banking group dedicated to institutional and corporate clients. Through offices across
Europe, North America and Asia, CACEIS delivers a comprehensive set of high quality services
covering:

• Depositary/Trustee-Custody
• Fund Administration and Transfer Agency
• Issuer Services

CACEIS is one of the world’s leading asset servicing providers and is the premier player in the
European domiciled fund market. In recent years, CACEIS has posted impressive growth figures
driven by strong sales and targeted acquisitions in the North American, German and Swiss markets.
Our services combine powerful IT systems, an innovative product range and expert staff to assist
clients in achieving their international business development goals.

Key Figures:

• Assets under Custody: €2,120bn / Assets under Administration: €975bn (As at June 30, 2009)
• Standard & Poor's: AA-/A-1+ (As at June 25, 2009)
• 3,730 employees
• 11 countries

Contacts:
For more information, please contact:
Séverine Anjubault, EDHEC
+33 493 187 863 – @: severine.anjubault@edhec-risk.com
Claude Michaux, CACEIS
+352 47 672792 – @: claude.michaux@caceis.com