Business
Luxembourg Licence
Luxembourg Licence.
About this update from Amicorp Fs (uk) Plc
[{"type":"text","content":"\n\n\n\n\n\nLEI: 21380028AUYWGMYXQA57\n\n\n22 November 2023\n\n\n\n\n \n \nAmicorp FS (UK) Plc\n('AMIF', the 'Company' or the 'Group')\n \nLuxembourg Licence\n \nAmicorp FS (UK) Plc, the international specialist fund services group, 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.\n \nThe de-merger involved the separation of the fund administration element of AMIF's existing jurisdictional licence, held within the Amicorp Group, thereby creating the conditions to apply for an additional depositary lite licence that will complement the Group's administration business with enhanced services and revenue opportunities. The new licence is expected to be granted in 2024.\n \nA depositary lite licence allows for the provision of a number of services including cash flow monitoring, safekeeping of assets and ongoing oversight, and will allow the Group to further strengthen its presence, collaborating with complementary service providers such as legal firms, investment advisors and asset managers, to expand the Group's reach to new prospects.\n \nLuxembourg is the largest investment funds centre 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 centre of excellence for a large variety of investment structures and funds.\n \nKin Lai, Chief Executive Officer of AMIF, said: \"We stated at the time of our IPO that an important aspect of our growth strategy was to expand our service offering amongst current clients and geographies. Luxembourg is an important financial and fund services marketplace that is of critical importance to the business. Today's news will allow the Group to drive a significant increase in revenue generating opportunities.\n \n\"The Company 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 set up and structuring, fund administration, investor services, assurance and governance services all of which are underpinned by ...