BNY Mellon wins EUR40bn fund admin mandate for Deka Immobilien

BNY Mellon has been appointed by Deka Immobilien, a subsidiary of Germany’s DekaBank, to provide global fund administration coordination and oversight for its special purpose vehicles. Much of Deka’s EUR40bn in real estate assets is invested globally through SPVs. BNY Mellon’s role will be to coordinate accounting data from the SPVs around the world in which Deka funds invest, review the data, translate it into the required accounting standards (e.g. IFRS) and provide it to Deka Immobilien for its NAV calculations. This was previously undertaken in-house by Deka Immobilien.

Burkhard Dallosch, COO of Deka Immobilien Investment GmbH, said: “We were immensely impressed by the commitment and knowledge of the BNY Mellon team as well as with their technology, which significantly automates the data gathering process and enhances the oversight of our real estate investment. This cooperation further contributes to the standardisation and comparability of data in the real estate industry as other organisations are also using the expertise of BNY Mellon. The fund administration of Deka Immobilien has become more efficient and will be able to continue its growth.”

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