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Daiwa Securities gain SAS70 rating

Posted: 05 August 2008

Daiwa Securities Global Asset Services, the fund servicing arm of the Daiwa Securities Group has obtained a Statement of Auditing Standards (SAS) 70 report from its independent auditors KPMG in respect of Daiwa Europe Fund Managers Ireland Limited, its Fund Administration operation in Ireland.

Following the completion of the fieldwork by KPMG and their issue of the SAS 70 report, Managing Director Karl McEneff said, "SAS 70 has come to be recognised as the benchmark badge of service quality in the fund servicing industry. Daiwa has engaged KPMG to perform the independent review on our control environment and the resulting report is a tangible demonstration of our commitment to service excellence for our clients."

This development is in addition to the SAS 70 report obtained by Daiwa's Custody operation based in London. Daiwa provides hedge fund administration, trustee, fund accounting, shareholder services and custody to fund promoters from a global client base.

It has subsidiaries in Ireland, UK, USA and Cayman, servicing assets with a total value of $93 billion.

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