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Collaboration is extremely important for any service provider looking to do business in Luxembourg and in that respect, Circle Partners (`Circle'), an independent fund administrator, is no exception.
Having first established a footprint in the Grand Duchy in 2011, Circle has invested considerable time and money and is now beginning to see the fruits of its labours as it prepares to establish an umbrella SIF. The platform will act as an incubator for managers wishing to create a sub-fund as opposed to taking on the burden of establishing their own standalone fund structure.
Michel van Zanten (pictured) is a Switzerland-based director
- 23/10/2015
One of the biggest challenges of AIFMD is that it directly impinges on investment activities at the manager level, as opposed to the fund level under the UCITS IV framework. This has required a shift in mindset, not just for managers, but also fund authorities in well-established fund jurisdictions such as Luxembourg.
For Luxembourg to take full advantage of AIFMD, it needs to build on its success as a UCITS hub by also becoming a manager hub. One where global investment managers use the Grand Duchy to establish management company operations, or appoint a third party AIFM, and run their
- 23/10/2015
This summer, to further enhance the strength of its global network, BNP Paribas Securities Services) (BNP Paribas) chose to integrate EY's Global Fund Distribution (GFD) product into its wider Fund Distribution Services (FDS) offering. This gives clients access to a comprehensive range of information to help them determine which product to distribute, which jurisdiction(s) to choose, which investors to target and the most appropriate distribution channels.
As Jean Devambez, head of asset and fund solutions at BNP Paribas Securities Services said at the time, the partnership with EY gives clients "access to a wealth of information at the click of
- 23/10/2015
MultiConcept Fund Management SA ("MultiConcept") is an AIFM and UCITS IV fund Management Company. Established in Luxembourg in 2004, MultiConcept has approximately CHF10.7 billion in assets under administration. It currently has 20 umbrella structures with 89 sub-funds.
With the AIFM Directive now in full swing, the demand for management company services as well as the ability to get to market quickly with a new fund offering is growing exponentially among alternative fund managers of all shapes and sizes. Cindyrella Amistadi is the CEO of MultiConcept. In her view, the potential growth is particularly strong in the more illiquid market (i.e.
- 23/10/2015
Luxembourg has carved out a significant position as Europe's leading onshore fund domicile over the last 20 years. This has largely been based on the popularity of UCITS funds, and the fact that the UCITS brand is now one with genuine global investor appeal.
According to the Association of the Luxembourg Fund Industry (ALFI), Luxembourg funds (including AIFs as well as UCITS) have grown 23 per cent over the last 12 months to EUR3.58 trillion. The jurisdiction is home to nearly 4,000 funds and 14,000 fund units.
More than 75 per cent of UCITS funds distributed globally are based in
- 23/10/2015
- 23/10/2015
Luxembourg's funds industry is marching ahead as Europe's leading funds domicile if figures released by the Association of the Luxembourg Funds Industry (ALFI) are anything to go by. According to ALFI, March saw the Grand Duchy enjoy record net sales and a growth of AUM.
Total assets now total EUR3.53 trillion, a 3.55 per cent increase for the month and a 13.89 per cent increase since the start of the year. In addition, net sales topped EUR49.92 billion.
Over the last 12 months, Lux-domiciled funds have seen their net assets grow more than 30 per cent. The low interest rate
- 23/10/2015
Eze Software Group is to acquire TKS Solutions, a specialty software provider of shareholder and partnership accounting tools. The value of the deal, which is expected to close next month, has not been disclosed.
TKS Solutions’ core product, known as Penny It Works, will add partnership and shareholder reporting capabilities to the existing portfolio accounting and portfolio management tools in Eze Software Investment Suite. Top asset managers and fund administrators leverage Penny to calculate fees and generate statements for any type of fund in a controlled and auditable environment. The TKS suite also contains a fee calculator that will calculate
- 22/10/2015
- 22/10/2015
The wealth and asset management industry may have been in growth mode, with assets under management (AUM) on the up and margins on the mend. But there are also simultaneous undercurrents of profound change, heated competition and margin pressures.
That’s according to a new report by Forbes Insights, in association with EY and SEI Investments Company, "Seeing Beyond: Unlocking the Long-Term Opportunities in Wealth and Asset Management, which reveals that a full 83 per cent of respondents agree or strongly agree that they are facing significant competitive pressure, indicating that the industry is experiencing considerable stress.
Nearly half of executives
- 22/10/2015
SunGard is expanding its Pricing and Data Services solution to include the entirety of Markit’s fixed income pricing data.
SunGard’s Pricing and Data Services is part of SunGard’s Investment Operations suite, which supports the entire investment process from portfolio management to client reporting. Pricing and Data Services provides third-party administrators and asset managers with a customised and scalable price validation solution that gives clients the freedom to focus on valued added practices such as oversight analysis rather than data scrubbing. It also helps customers improve operational efficiency, mitigate financial and reputational risk, increase ROI, and reduce costs.
Pricing and Data
- 22/10/2015
The leading international provider of specialist business and finance training courses has announced plans to launch a specialised risk management and financial regulation training centre.
Eureka Financial has revealed plans to launch a specialised risk management and financial regulation training centre.
With the company already operating several specialised training offices around the world – including in key locations such as London and Dubai – Eureka Financial’s planned expansion is expected to increase the number of learners who choose to study with their specialist instructors in areas such as Corporate Governance, Operational Risk Management, Financial Regulatory Compliance and many more.
- 22/10/2015
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