As of 9 December 2013, EFA becomes the valuation and administration agent for the Oddo Asset Management investment funds and the investment funds of third-party asset management companies which are clients of Oddo & Cie, so far administered by Oddo Services. This partnership is consistent with the rationale of independence and the international expansion of Oddo Group's asset management business.

Oddo Services will continue to provide account maintenance and custodian services to the above investment funds. Oddo Group's expertise, combined with EFA's third-party service culture, will enable the two partners to provide asset management companies with a high quality and fully independent service solution.

With the integration of Oddo's current valuation team, EFA strengthens its presence in France and now counts 518 employees worldwide looking after 2,720 funds and a total of € 103bn euros in assets under administration. In addition to the contribution of activities, Oddo & Cie acquires a 5% stake in EFA S.A. based in Luxembourg. Moreover, Philippe Oddo, Managing-Partner Oddo & Cie, joins EFA's Board of Directors.

Philippe Oddo, Managing Partner Oddo & Cie, said: "I am convinced of the validity of an independent valuation model for the investment funds and am delighted to work alongside the leading independent valuation services provider in Europe."

Thomas Seale, Chief Executive Officer of EFA, said: "We greatly appreciate Oddo Group's expertise in asset management, in addition to its in-depth knowledge of the French market. These characteristics guarantee the quality of our partnership."