MainFirst Group strengthen its Asset Management division with its own management company in Luxembourg
MainFirst Affiliated Fund Managers S.A. will assume the administration of the MainFirst mutual fund family as of 1 January 2016
Settlement routes for clients will not change as a result of this
MainFirst Group strengthen its Asset Management division with its own management company in Luxembourg. MainFirst Affiliated Fund Managers S.A. will assume the administration of the MainFirst mutual fund family as of 1st January, 2016. This function has previously been covered by the management company Lemanik Asset Management S.A.
MainFirst Holding has therefore acquired the Luxembourg-based management company I|A|F|A S.A., whose name has been changed to MainFirst Affiliated Fund Managers S.A. The administration of the various MainFirst mutual funds in the MainFirst Group will be separated strictly from the portfolio management function both from an organisational as well as from a corporate law point of view.
MainFirst has decided to change the management company in order to be able to offer clients a holistic service on the one hand – and to ensure its own high standards with regard to risk management, investment compliance, reporting standards and administrative tasks on the other hand.
“We are now able to offer our clients not only first-class mutual fund solutions but also special fund solutions or structuring vehicles,” says Oliver Haseley, manager of the Asset Management division at MainFirst. The Luxembourg supervisory authority, CSSF (Commission de Surveillance du Secteur Financier), has already approved this organisational change. “The successful and proven collaboration with J.P. Morgan Bank Luxemburg S.A. as custodian and fund administrator of the MainFirst mutual fund family will also be continued within the new structure”, explains Haseley.
MainFirst Affiliated Fund Managers S.A. is the independent management company of MainFirst Group. Besides the management and administration of the MainFirst funds, the focus is to connect with external third party asset managers from around the world. In addition to the licence for the administration of UCITS funds, the company also has the AIFM licence and can therefore serve as management company for mutual funds and as AIFM for special funds domiciled in Luxembourg. Target clients are primarily national and international asset managers, banks, insurance companies, pension funds and family offices.