Bantleon Bank, a Swiss financial services company, has appointed UBS Fund Services in Luxembourg as their new fund administrator. The contract starts at the end of this month.
For the past 15 years, the Bantleon Bank group has specialised in the management of high-grade bonds – both its own bond investments and those of Bantleon Government Bond Funds. All investors in the funds are institutional customers, including a large number of German savings banks, co-operative banks and building societies, mortgage banks, pension funds and primary insurance and reinsurance companies. Total assets under management amount to Euros 2.6 billion.
UBS says one of the major factors in Bantleon Bank’s decision to move their fund administration to the bank in Luxembourg was in order to further support their strategy of cross-border distribution of the funds. Another key reason was the requirement to have a UCITS III set-up, which Fund Services could offer.