REG - Amicorp FS (UK) PLC - Luxembourg Licence

Amicorp FS (UK)Announcement

22/11/2023 07:00

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RNS Number : 1860U  Amicorp FS (UK) PLC  22 November 2023

 LEI: 21380028AUYWGMYXQA57  22 November 2023

 

 

Amicorp FS (UK) Plc

('AMIF', the 'Company' or the 'Group')

 

Luxembourg Licence

 

Amicorp 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.

 

The 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.

 

A 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.

 

Luxembourg 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.

 

Kin 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.

 

"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
market-leading technology solutions that support our clients across the value
chain, from a single point of contact."

 

- Ends -

 

For further information please contact:

 

 Amicorp FS (UK) Plc                                  Via Buchanan Communications

 Toine Knipping, Non-Executive Chairman

 Chi Kin Lai, Chief Executive Officer

 Tat Cheung (Stephen) Wong, Chief Financial Officer

 Zeus (Broker)                                        Tel: +44 (0) 20 3829 5000

 Martin Green / Louisa Waddell (Investment Banking)   www.zeuscapital.co.uk (http://www.zeuscapital.co.uk)

 Benjamin Robertson (Corporate Broking)

 Bowsprit Partners Limited (Financial Adviser)        Tel: +44 (0) 20 3883 4430

 John Treacy                                          www.bowspritpartners.com (http://www.bowspritpartners.com)

 Luis Brime

 Media enquiries:                                     Tel: + 44 (0) 20 7466 5000

 Buchanan (Financial Communications)                  AmicorpFS@buchanan.uk.com

 Simon Compton

 Verity Parker

 

Notes to Editors

 

AMIF is an international specialist fund services group that works with a
broad mix of clients including institutional investors, fund managers (private
equity, venture capital and hedge funds) as well as family offices to provide
a suite of specialist services across global markets. AMIF operates at
significant scale, providing local and global expertise to over 460 active
funds.

 

AMIF provides a comprehensive and tailored range of services which are all
underpinned by market-recognised technology solutions that support clients
across the value chain, from a single point of contact.

 

These include:

 

·    Fund Administration & Investor Services: Fund accounting, fund
administration, in-house NAV calculation, investor services including Register
& Transfer Agency services, booking of subscriptions & redemptions,
audit liaison/support, real time oversight over investment performance.

 

·    Assurance and Governance Services: FATCA and CRS reporting services,
Fiduciary, Anti-Money Laundering (AML) officer services in compliance with
international rules and regulations including administrative support to the
Board and Committees of the Board.

 

·    BPO Services: Simplifying accounting and administration services
through automated accounting processes and providing management insight into
business operations through regular and consistent management reporting.

 

For further information please visit www.amicorp-funds.com/chairmans-welcome/
(http://www.amicorp-funds.com/chairmans-welcome/)

 

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