Amicorp FS (UK) Plc (“AMIF”) is pleased to announce the successful completion of the demerger of Amicorp Luxembourg S.A., which will allow for an expansion of the company’s operations in this strategically important fund services market. It marks an important step forward for Amicorp Group’s fund services business which listed on the London Stock Exchange in June 2023.
The demerger involved the separation of the fund administration element of AMIF’s existing jurisdictional license, held within Amicorp Group, thereby creating the conditions to apply for an additional depositary lite license that will complement AMIF’s administration business with enhanced services and revenue opportunities. The new license is expected to be granted in 2024.
A depositary-lite license allows for the provision of several services including cash flow monitoring, safekeeping of assets, and ongoing oversight, and will allow it to further strengthen its presence, collaborating with complementary services providers such as legal firms, investment advisors, and asset managers, to expand its reach to new prospects.
Luxembourg is the largest investment funds center in Europe and the second largest in the world after the United States. It is a worldwide leader in cross-border fund distribution and has continued to develop its reputation as a center of excellence for a large variety of investment structures and funds.
**Kin Lai, Chief Executive Officer of AMIF, said: **“Luxembourg is an important financial and fund services marketplace that is of critical importance to the business. Today’s news will allow AMIF to drive a significant increase in revenue-generating opportunities.”
“Our business is expanding across all its key markets as part of a plan to accelerate its growth ambitions, both organically and through acquisitions. We will continue to provide a comprehensive and tailored range of services – including fund setup and structuring, fund administration, investor services, assurance, and governance services all of which are underpinned by market-leading technology solutions that support our clients across the value chain, from a single point of contact.”
If you would like to find out more about the demerger or our Fund administration services, please contact the team here
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