Standard Chartered is planning to offer a full suite of investor services to Luxembourg funds, in response to increasing client demand for the banks support of Luxembourg domiciled UCITS structures.
As part of the banks commitment to investors across its footprint markets of Asia, Africa and the Middle East, Standard Chartered is looking to open a depository bank branch in Luxembourg to support this activity. The details and precise timescale for opening this branch will be advised as soon as all legal and regulatory approvals are received.
Luxembourg-based European Fund Administration (EFA) will be working with the bank as part of a five-year strategic partnership to deliver fund administration, transfer agent services and the full regulatory reporting suite.
Commenting on the expansion, Margaret Harwood-Jones, managing director & global segment sponsor, Investors and Intermediaries, said: Investor demands in the worlds markets are changing; the regulatory landscape, fast maturing emerging markets and the evolving expectation of service providers are key themes in an environment that continues to both challenge and reward the financial industry.
In response to these demands, our planned Luxembourg proposition provides a unique platform to fund managers who recognize Luxembourgs status as the world’s second largest investment fund center and key domicile for cross-border fund distribution.
Our integrated securities and fund services platform, sophisticated cash and liquidity solutions, transparent FX execution and in depth, local market knowledge provide the starting point to offer clients unprecedented local expertise across the most dynamic, fast growing markets of Asia, Africa and the Middle East.
(JDC)