RBC I&TS launches first Luxembourg UCITS fund for Daiwa Asset Management

Luxembourg has emerged as an attractive destination for Asian asset managers that seek new fund channels for their products.

By Joe Parsons

RBC Investor & Treasury Services (RBC I&TS) has helped launch the first Luxembourg UCITS fund for Daiwa Asset Management, Japan’s second largest asset manager.

The new fund, called Daiwa Global Funds, will enable the Japanese firm to utilise Luxembourg as a distribution hub in Europe, as Asian asset managers seek new fund channels for their products.

“Asian fund managers are increasingly seeking growth outside of their traditional domestic markets, and are attracted by countries like Luxembourg with its status as an international hub for globally distributed investment funds, notably UCITS,” said Andrew Gordon, managing director, Asia, RBC I&TS.

“The Daiwa Global Funds will be supported by our centre of excellence in Luxembourg, together with our local experts based in Tokyo and Singapore.”

Earlier this year, RBC I&TS was appointed the depository and administrator for Japan’s Asset Management One Alternatives Investments (AMOAI) and its first global Luxembourg-domiciled infrastructure debt vehicle, Cosmic Blue PF Lotus FCP.

In April, RBC I&TS completed the sale of its Luxembourg-based global funds platform to MFEX, but at the same time, signed a long-term deal to use MFEX for fund distribution services.