Luxembourg-based fund administrator European Fund Administration (EFA) has opened a French subsidiary. The expansion coincides with the tenth anniversary of the foundation of the firm in October 1996 by four Luxembourg banks.
EFA says the establishment of European Fund Administration France S.A.S (EFA France) was prompted by the growing demand for specialized and independent fund administration services in France, the second largest fund market in Europe.
EFA France is a 100% subsidiary of EFA, offering services for French domiciled traditional and alternative investment products.
EFA now claims to be the largest fund administration company in Luxembourg in terms of number of sub-funds under administration.
According to data published in the Fitzrovia Encyclopaedia 2006, EFA currently administers 110 billion Euro in assets, held in 1300 investment fund portfolios, 9 pension funds and 700 unit linked insurance policies.
EFA administers over Euros 13.5 billion in alternative investment funds, including private equity funds as well as hedge and fund of hedge funds.
EFA is also one of the largest third party Transfer Agencies in Luxembourg, processing over 2,000 subscription and redemption orders daily, on behalf of investors in 30 countries.
EFA’s client base has grown to over 140 clients from more than 20 different countries. It now employs over 460 people in Luxembourg.
“Over the past ten years EFA has achieved an admirable track record of success in serving its clients,” CEO Tom Seale says. “We are currently working on multiple development projects which give me confidence in EFA’s future as a strong and independent player in the European marketplace.”