Butterfield Fulcrum has signed an agreement with Luxembourg Investment Solutions S.A. (LIS), a UCITS-licensed fund management company, to jointly offer asset management and fund administration services in Luxembourg.
The firms say the partnership will allow non-European fund initiators an easy way to launch Luxembourg-domiciled funds with a single point of contact for administration and corporate secretarial duties. The partnership will focus on alternative investment funds and structures.
“There is a growing trend towards regulated funds from the institutional client side and Luxembourg is a preferred domicile, particularly for alternative managers with offshore funds seeking to clone their strategies with Luxembourg vehicles such as master-feeder funds and alternative UCITS, says Thomas Goergen, CEO of Luxembourg Investment Solutions.
Butterfield Fulcrum will offer the setup and administration of the complete range of fund structures available in Luxembourg, including SIFs and UCITS. Through the partnership with LIS, the fund manager can set up customized regulated fund structures with full coordination between the Luxembourg financial supervisory company, CSSF, legal advisers, tax specialists, custodians and other Luxembourg-based entities, the firms say.
“Bringing together the jurisdictional and product expertise of LIS and the industry leading operational infrastructure of Butterfield Fulcrum has allowed us to create a unique and compelling offering encompassing every aspect from design and setup to complete reporting and administration services for managers wishing to establish a European Onshore structure,” said Tim Thornton, managing director for Global Client Delivery at Butterfield Fulcrum.
(CG)