Dharma Holdings S.A., the Luxembourg-based holding company, has launched a new portfolio and fund management firm – Europenne de Gestion Prive (EGP) with its main office in Bordeaux and branches in Toulouse and Rome.
EGP is authorized by the Autorit des Marchs Financiers (former Commission de Oprations de Bourse) since July 27, 1990, reg. no. 90052. The company manages accounts under mandate and investment funds for high net worth individuals.
After being taken over by Dharma Holdings in 2003, EGP has been going though a reorganization to introduce vital innovations to improve both the efficiency and quality of services provided to its clients, the bank said. EGP has been focusing on four main areas: commissions, trader-client relationships, Metabanking and trading technology.
The first fundamental change at EGP is the complete absence of indirect commissions or shared commissions with providers of services (i.e. the custodians and brokers), in order to avoid any kind of conflict of interest with its clients, the bank said. The second is the introduction of the direct relationship between the trader and the client, guaranteeing full transparency of services. Thirdly, EGP searches for the lowest costs available on the market (trading, custody, clearing and settlement) following a new concept of Metabanking (see www.dharma.lu for more information). Finally, EGP has implemented technology from Financial Tradeware to enable straight through processing of its trading, administration and accounting processes to reduce risk in the organization and increase the efficiency of operational processes.
“We are delighted to launch EGP as a new breed of portfolio and funds management company that is designed with client-centric methodology,” said M. Fadi Chamas, Directeur Gnral at EGP. “Our mission is to provide our clients with the maximum return on their investment possible and we firmly believe that our new innovations combined with the skill of our traders will allow us to surpass all of their expectations.”
Alberto Fontana, Managing Director of Financial Tradeware adds: “We have been very pleased with the implementation of both the UltraSuite(tm) and S-Messenger(tm) at EGP and have already seen measurable benefits from the technology in terms of increased automation and cost efficiency. We look forward to being able to supply EGP with the new .NET versions of our products later on this year.”