Standard Chartered (StanChart) is all set to offer a full suite of investor services to Luxembourg funds, due to the increasing client demand for the bank’s support of Luxembourg domiciled UCITS structures.
The move is part of the bank’s commitment to investors across its footprint markets of Asia, Africa and the Middle East, and the details and precise timescale for opening the branch will be advised as soon as all legal and regulatory approvals are received.
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The bank has revealed that a major portion of funds invested in StanChart’s franchise markets use UCITS fund structures, which allow asset managers to passport their funds across multiple jurisdictions.
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."
Harwood-Jones added: "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."
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By GlobalDataRecently, StanChart had launched an integrated direct and regional custody platform for its investor and intermediaries clients and alongside recent hires in its investor and intermediaries business, underlining the bank’s commitment to continue building out its capabilities to meet client needs.
As part of a five-year strategic partnership, the bank will be assisted by European Fund Administration (EFA), an independent fund administrator having over 15 years’ experience in the Luxembourg fund industry, to deliver fund administration, transfer agent services and the full regulatory reporting suite.
