JPMorgan Bank Luxembourg S.A. is the first third party Luxembourg fund administrator to have $300 billion of assets under administration and is the largest custodian and fund administrator in Luxembourg, according to the latest figures from Fitzrovia, an independent data firm.
As at the end of first quarter 2007, JPMorgan’s Luxembourg assets under administration were $319 billion and assets under custody were $431 billion.
“Our Luxembourg business experienced another year of strong growth driven by UCITS III and an increase in global demand,” said Susan Ebenston, head of international fund services products at JPMorgan Worldwide Securities Services. “Our commitment to the market and successful partnerships with many of the world’s leading fund managers has enabled us to be the first service provider to have more than $300 billion of assets under administration and the first to have more than $400 billion of assets under custody.”