Full suite of Investor Services to be offered to Luxembourg domiciled funds
Standard Chartered has announced that it is planning to offer a full suite of Investor Services to Luxembourg funds, in response to increasing client demand for the Bank’s support of Luxembourg domiciled UCITS structures.
As part of the Bank’s 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.
A significant portion of funds invested in Standard Chartered’s franchise markets use UCITS fund structures, which allow asset managers to passport their funds across multiple jurisdictions. The Bank offers an extensive product range to service this activity, with the reassurance to clients of a committed, financially sound provider, who can facilitate direct access to custody and clearing services across an unparalleled 39 markets.
Commenting on the expansion, Margaret Harwood-Jones, Managing Director & Global Segment Sponsor, Investors and Intermediaries, said: “Investor demands in the world’s 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 recognise Luxembourg’s status as the world’s second largest investment fund centre 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.”
Standard Chartered recently launched an integrated direct and regional custody platform for its investor and intermediaries clients and alongside recent hires in its Investor and Intermediaries business, this underlines the Bank’s commitment to continue building out its capabilities to meet client needs.
European Fund Administration (EFA), a leading independent fund administrator with over 15 years’ experience in the Luxembourg fund industry, 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.
For further information please contact:
Chris Teo
Business Corporate Affairs
Standard Chartered Bank
Tel: +65 6596 9280
E-mail: Chris.Teo@sc.com
Shaun Gamble
Senior Manager, External Communications
Standard Chartered Bank
Tel: +44 20 7885 5934
E-mail: Shaun.Gamble@sc.com