April 2018

FUND ADMINISTRATION DIRECTORY: Trends & regulations

Funds Europe talks to senior admin executives about fund launches, regulation and client demands that are fuelling activity. Plus, listings for the firms that took part in our survey.

ALTER DOMUS ALTERNATIVE ASSET FUND ADMINISTRATION
Robert Brimeyer – chief operating officer

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
In 2017 we onboarded 97 new funds. Alter Domus continues to consistently focus on servicing private equity/infrastructure funds, real estate funds, debt funds as well as fund of funds. We have seen the biggest growth in real estate and debt fund launches in 2017.

Which one or two regulations are most prevalent at present?
As with most companies, one of our current challenges is the GDPR legislation, which will become effective on May 25, 2018, bringing considerable changes to data protection laws across the European Union. We continue to support our clients with emerging regulatory challenges such as SEC reporting, transparent fee reporting and complying with the ever-increasing reporting requirements and deadlines all over the world.

How have market trends in the past year shaped the demands of your clients?
The alternative investments industry has been evolving rapidly over the last couple of years and is moving forward quickly in terms of maturity. We experience that the requests we get from our clients become more and more aligned around regulatory reporting and standardisation of investor reporting. Also, as the industry matures, we see fund managers increasingly outsourcing middle-office services to us. An increasing number of managers realise that it will require significant investment into technology if they want to deliver state-of-the-art reporting to their clients. Sharing these investments with peers by moving the services to high-quality service providers such as Alter Domus allows them to focus on their core business and secure the level of control and efficiency in daily service execution.

Alter Domus Alternative Asset Fund Administration
5, rue Guillaume Kroll
Luxembourg
L-1882
Luxembourg
[email protected]
+352 48 18 28 1

Country of origin: Luxembourg
Global number of employees: 1,800
Total AuA: €184 billion
Total AuA in EMEA business: €113 billion
Total AuA Ucits in Europe: €0
Total AuA non-Ucits in Europe: €113 billion

Senior executives in Europe: Laurent Vanderweyen , (Luxembourg), executive officer; Robert Brimeyer (Luxembourg), chief operations officer; George Rologis (Luxembourg ), regional executive Europe & MEA and group head corporate (Luxembourg ), country executive Luxembourg


APEX FUND SERVICES
Srikumar T.E. – deputy CEO

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
Approximately 400 fund launches. The largest groups of new launches came from hedge funds. Hedge fund launches haven’t slowed down for us but we are seeing an increase in private equity funds and a large increase in requests for crypto funds, especially in the UK.

Which one or two regulations are most prevalent at present?
A primary focus is around the Cayman Anti-Money Laundering Regulation and Guidance Notes issued in December 2017, which set out the requirements for natural persons to fill [certain anti-money laundering roles]. Historically, the guidance notes provided for delegation of the procedures to fund administrators without a direct need to appoint natural persons to those roles. There has been significant confusion in the industry since the release of the new guidance note and CIMA [Cayman Islands Monetary Authority] is now engaged with industry.

A secondary and equally important regulatory update is around the Beneficial Ownership Regime, which is brand new legislation implemented as of 2017.

How have market trends in the past year shaped the demands of your clients?
Demands from clients and investors continue to be geared towards greater transparency - requiring value-added services for qualitative information and independent portfolio risk review.

There is also continuing consolidation in the long-only space that is leading to a wholesale review of systems and providers as the combined entities look to shed legacy processes and outsource to third-party providers.

The rise and rise of credit funds and platforms continues as banks continue to restrict lending. These funds need a completely different set of services from administrators.

The Brexit hedge, where managers are looking at purely UK solutions, is providing a boost to the UK regulated funds space.

Apex Fund Services
20 Reid Street
Hamilton
Bermuda
[email protected]
www.apexfundservices.com

Country of origin: Bermuda
Global number of employees: 1,200
Total AuA: €69 billion
Total AuA in EMEA business: €26 billion
Total AuA Ucits in Europe: €4.3 billion
Total AuA non-Ucits in Europe: €16 billion

Senior executives in Europe: John Bohan (Dublin), regional managing director, Europe; Paul Spendiff (London), managing director, UK; Paulianne Nwoko (Selima), managing director, Malta; Gareth Williams (Luxembourg), managing director, Luxembourg


BNP PARIBAS SECURITIES SERVICES
Alexandre Pirlet – head of fund administration and distribution solutions

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
As at December 31, 2017, we were administering 10,959 funds. Market growth has been driven by the interest in non-traditional asset classes like debt funds, private equity and real estate funds. Fund promotors and investors are likewise developing an appetite for funds structures enabling them to reach a lower expense ratio, like ETFs.

Which one or two regulations are most prevalent at present?
MiFID II and its transaction reporting requirements are at the forefront of our clients’ minds. Clients are also looking at us to help them comply with investor protection requirements and ensure products match investors’ risk profile and investment needs. The Money Market Fund Regulation is still on our clients’ radar, requiring changes to the way valuations are conducted and information is reported.

How have market trends in the past year shaped the demands of your clients?
Our clients are demanding coherent, controlled data, easily accessible through digital solutions. This is driven by their own clients who are asking for digital solutions and by the necessity to deliver the right products in a changing market, while also complying with ever-increasing regulatory requirements.

This is leading us to develop predictive analytics, big data and blockchain solutions to drive marketing and product development. We have notably invested in the fintech Fortia whose technology is helping our clients monitor the compliance of their funds.

BNP Paribas Securities Services
9 rue du Débarcadère
93500, Pantin, France
+33 (0)1 42 98 10 00
www.securities.bnpparibas.com

Country of origin: France
Global number of employees: 1,200+
Total AuA: €2,310 billion
Total AuA in EMEA business: €1,761 billion
Total AuA Ucits in Europe: n/d
Total AuA non-Ucits in Europe: n/d

Senior executives in Europe: Patrick Colle (Paris/London), general manager; Arnaud Claudon (Paris) head of asset managers client line; Alexandre Pirlet (Luxembourg), head of fund administration & distribution solutions


BNY MELLON
Daron Pearce – chief executive, Emea, asset servicing

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
The trends in the past year include an ongoing shift to passive (ETFs in particular) growth in alternatives, including an increased interest for loan funds and property funds, and the progressive impact of ESG. Over 2,600 funds were supported in Europe, the Middle East and Africa for 2017.

Which one or two regulations are most prevalent at present?
There is no let-up in regulatory change post MiFID II. Indeed, there is still work to be completed across the industry on MiFID, both in terms of direct compliance and to adjust business models. Included within MiFID II were provisions around costs and charges, and for some firms this overlapped with the Packaged Retail and Insurance-based Investment Products Regulation that came into effect at the start of 2018. These changes, combined with the FCA’s Asset Management Market Study and similar reviews from Esma and other regulators, suggest costs will be a theme that will continue. Another material regulatory project and immediate priority – due for implementation by May 25 – is the General Data Protection Regulation.

How have market trends in the past year shaped the demands of your clients?
We have a significant role in responding to and indeed, enabling the continued consolidation of the asset management industry, driven by economies of scale, the rise of the individual investor and technological innovation.

BNY Mellon
One Canada Square, Canary Wharf
London E14 5AL, UK
+44 20 7570 1784
www.bnymellon.com

Country of origin: USA
Global number of employees: n/d
Total AuA/custody: €27,545 billion
Total AuA/custody in EMEA business: €1,653 billion
Total AuA Ucits in Europe: €941 billion
Total AuA non-Ucits in Europe: €711 billion

Senior executives in Europe:
Hani Kablawi (London), CEO, global asset servicing and chairman, EMEA; Daron Pearce (London), CEO EMEA asset servicing, BNY Mellon; Rachel Turner (Dublin), business executive, investment managers; Katherine Starks, Frankfurt, head of asset servicing, Germany, Austria, Switzerland and the CEE region


CACEIS
Joe Saliba - Deputy CEO

1-3, place Valhubert
75206 Paris Cedex 13
France
[email protected]
+33 1 57 78 00 00
www.caceis.com

Country of origin: France
Global number of employees: 1,500
Total AuA: €1,765 billion
Total AuA in EMEA business: €1,728 billion
Total AuA Ucits in Europe: €672 billion
Total AuA non-Ucits in Europe: €418 billion

Senior executives in Europe: Jean-François Abadie (Paris), Chief Executive Officer; Joe Saliba (Paris), Deputy Chief Executive Officer; Philippe Bourgues (Luxembourg), Managing Director – CACEIS Bank, Luxembourg Branch Member of the Executive Committee


CITI
Pervaiz Panjwani – head of Emea, custody & fund services

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
Ninety-nine fund launches ranging across Sicavs, Ucits, Oeics, as well as pension and unit-linked funds

Which one or two regulations are most prevalent at present?
The biggest regulatory implementation this year is the EU’s General Data Protection Regulation, or GDPR.

Thinking more holistically, here are the two key regulatory themes that we are following:

  • Policymakers’ focus: From implementation to evaluation
    Policymakers have changed their focus from implementation to evaluating potential revisions to existing regulation or introducing new rules.
  • The Brexit effect
    While the industry anxiously awaits details for the final Brexit deal, the long-term existential challenge for the industry is the impact the UK’s withdrawal from the EU will have on future EU policymaking.

How have market trends in the past year shaped the demands of your clients?
One of the biggest trends is the shift to passive investing, either through traditional index mutual funds or ETFs.

The industry is responding to these challenges in a number of ways, for example through consolidation as a way to increase economies of scale, and with new products – such as active ETFs – that leverage their investment management capabilities but offer the trading advantages of an ETF.

More recently, there have been attempts to introduce more innovative fee structures, such as ‘fulcrum’, and an increased focus on outsourcing of non-core activity.

Citi
Citigroup Centre, Canada Square, Canary Wharf
London, E14 5LB
[email protected]
+44 20 7986 6000
www.citibank.com/mss/products/investor_svcs

Country of origin: US
Global number of employees: 2,745
Total AuA: €1,533 billion
Total AuA in EMEA business: €975 billion
Total AuA Ucits in Europe: €367 billion
Total AuA non-Ucits in Europe: €608 billion

Senior executives in Europe: Pervaiz Panjwani (London), head of EMEA custody & fund services (CFS); Fiona Horsewill (London), head of EMEA CFS product development; Jervis Smith (Luxembourg), head of Luxembourg investor services; Patrick O’Brien (Dublin), head of Ireland global funds services


HSBC SECURITIES SERVICES
Nick Titmuss – head of service delivery

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
HSBC Securities Services has a large number of change initiatives globally, which included 130 new fund launches for both current and new clients across a broad range of share classes and fund types (pension, Sicav, Oeic, life non-unit linked, life unit linked, MENA general funds and unitised pension). This is delivered by the well-resourced and highly experienced global change management and delivery team, supported by technology.

Which one or two regulations are most prevalent at present?
Third-party administrators (TPAs) are currently very busy working on the General Data Protection Regulation (GDPR), specifically when they provide transfer agency services to funds where investors are European citizens. A clear delineation of responsibility between the fund acting as controller and the TPA acting as a processor needs to be agreed in order to handle subscriptions and redemptions via application forms properly. In addition, a TPA has to consider their GDPR obligations as controllers when they provide AML KYC [anti-money laundering/know-your-client] on fund investors.

How have market trends in the past year shaped the demands of your clients?
Market trends have resulted in more clients wanting to pool assets to, for example, reduce costs. HSBC Securities Services has seen a marked increase in interest in tax-transparent funds.

In addition, clients demanding more meaningful data is driving the increasing digitisation of the industry.

HSBC Securities Services
8 Canada Square
London
E14 5HQ
United Kingdom
+ 44 20 7991 8888
www.hsbcnet.com/hss

Country of origin: UK
Global number of employees: 4,353
Total AuA: €2,846 billion
Total AuA in EMEA business: €1,853 billion
Total AuA Ucits in Europe: €243 billion
Total AuA non-Ucits in Europe: €1,608 billion

Senior executives in Europe: Cian Burke (London), head of HSBC securities services; Richard Godfrey (London) chief operating officer, HSBC Securities Services; Tony McDonnell (Dublin), head of sales and business development, Europe; Nick Titmuss (Edinburgh), head of service Delivery, HSBC Securities Services, Europe


MAITLAND 
Kavitha Ramachandran – senior manager – business development & client management

About how many fund launches have you supported this year and what type of strategies or asset classes has there been a trend for?
We have seven fund launches which covered equities, fixed income, ETFs, real estate, private equity and fund of funds.

Which are the top one or two regulations that you are most observing at present from a TPA point of view?
The Packaged Retail and Insurance-based Investment Products regulation, or Priips, and the GDPR.

How have market trends in the past year shaped the demands of your clients?
There has been demand for private equity and real estate funds.

Maitland
58, rue Charles Martel
Luxembourg L-2134
[email protected]
+352 40 25051
www.maitlandgroup.com

Country of origin: Luxembourg
Global number of employees: 592
Total AuA: €246 billion
Total AuA in EMEA business: €226 billion
Total AuA Ucits in Europe: €8.4 billion
Total AuA Non-Ucits in Europe: €16 billion


NORTHERN TRUST
Clive Bellows – head of global fund services, Emea

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
In 2017 we supported over 295 fund launches and this year we have supported 37 launches, with 250 in the pipeline for the rest of 2018. The trend has been for equity, liability-driven investment and real estate. However, we have also seen many managers launching tax-transparent funds (such as ACS and CCFs).

Which one or two regulations are most prevalent at present?
In 2018, we observe MiFID II hangovers, the implementation of GDPR in May and CSDR, Priips and Emir changes that we consider [to be the] key regulations impacting clients.

How have market trends in the past year shaped the demands of your clients?
The uncertainty around the delegation of fund management to managers located within the UK [means that] until we have clearer guidance, clients will remain cautious about where they locate their assets, which is likely to see increased demand for fund launches in other jurisdictions.

The need for transparent costs and charges is having a dual impact. We are required to supply more granular detail on fees at all stages of the contract cycle; and asset managers are negotiating prices as a consequence, as our charges are easier to see. There is a challenge therefore in preserving asset managers’ margins as they themselves reduce pricing to clients.

Additionally, clients are focused on their depth of knowledge of our business and due diligence processes.

Northern Trust
50 Bank Street
London, E14 5NT
020 7982 2176
www.northerntrust.com

Country of origin: US
Global number of employees: 13, 290
Total AuA: €4,757 billion
Total AuA in EMEA business: €612 billion
Total AuA Ucits in Europe: €415 billion
Total AuA Non-Ucits in Europe: €327 billion

Senior executives in Europe: Teresa Parker (London), president of EMEA; Laurence Everitt (London), head of global fund services UK


RBC INVESTOR & TREASURY SERVICES
Sébastien Danloy – chief executive officer, RBC Investor Services Bank SA

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
In 2017, RBC I&TS supported the launch of over 200 funds in Europe, with significant growth in real estate, real assets, both domestic and offshore investment funds, pension funds and smart beta products. We remain focused on leading in the offshore markets of Luxembourg and Ireland and on delivering operational excellence to our clients across Europe, Asia-Pacific and North America.

Which one or two regulations are most prevalent at present?
RBC I&TS continues to enhance its service offering in response to the evolving regulatory environment. Over the past year, RBC I&TS delivered solutions to support our clients’ regulatory reporting requirements for Priips and MiFID II. Clients are currently very focused on GDPR, and we are in regular contact and working closely with them to understand and manage its impact.

How have market trends in the past year shaped the demands of your clients?
Clients are increasingly looking to data solutions to help them respond to regulatory changes and competitive pressures.

RBC I&TS is advancing our data management and analytics capabilities to help clients generate valuable insights into their business.

RBC I&TS will enable users to access data in a flexible manner, such as through the use of application programming interfaces (APIs).

We are already using APIs to share aggregated data sets with a significant number of clients, enabling the delivery of a differentiated client experience.

RBC Investor & Treasury Services
Riverbank House,
2 Swan Lane,
London EC4R 3BF
UK
+44 020 7653 4000
www.rbcits.com

Country of origin: Canada
Global number of employees: n/d
Total AuA: €2,839 billion
Total AuA in EMEA business: €1,348 billion
Total AuA Ucits in Europe: n/d
Total AuA non-Ucits in Europe: n/d

Senior executives in Europe: Harry Samuel (London), CEO, RBC Investor & Treasury Services; Francis Jackson (London), head of global client coverage, RBC Investor & Treasury Services; Joanna Meager (London), global head of client operations, UK, RBC Investor & Treasury Services; Sébastien Danloy (Luxembourg) CEO, RBC Investor Services Bank S.A.


SEB FUND SERVICES
Marie Juhlin – head of SEB Fund Services S.A.

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
SEB Fund Services has been mandated to offer administration or management services for about 24 sub-funds over the year from third-party investment firms. A large proportion of them were transferred out from existing third-party administrators . The sub-funds launched were either Ucits or alternative investment fund products having diverse investment objectives, techniques and/or different geographical investment targets to satisfy various investors risk profiles.

Which one or two regulations are most prevalent at present?
The General Data Protection Regulation reinforces an existing regulation while enforcing new rights to the data subjects and new responsibilities to all professional entities who manage personal data in the sense of the regulation. Its implementation is very challenging for banking and management companies simultaneously implementing other laws and regulations (such as the Benchmark Regulations).

How have market trends in the past year shaped the demands of your clients?
Market trends have created some opportunities. Asset managers – according to their market knowledge and experience and their investors’ risk profile targets – have developed products either based on high yield selection, alphas or having the objectives to benefit from economic growths in some specific geographical areas.

SEB Fund Services S.A.
4, Rue Peternelchen
Howald, L-2370
Luxembourg
[email protected]
+352-2623-1
www.sebfundservices.lu

Country of origin: Sweden
Global number of employees: 18
Total AuA: €15 billion
Total AuA in EMEA business: €15 billion
Total AuA Ucits in Europe: €14 billion
Total AuA Non-Ucits in Europe: €1.9 billion

Senior executives in Europe: Marie Juhlin (Luxembourg), head of SEB Fund Services S.A.; Jan Hedman (Luxembourg), deputy head of SEB Fund Services S.A.; Göran Fors (Sweden), acting head of investor Services; Jonas Lindgren (Sweden), client executive large corporates and financial institutions.


SEI INVESTMENTS – GLOBAL FUND SERVICES LIMITED
Philip T. Masterson – managing director

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
SEI has supported over 50 client launches conversions during 2017. We’re also seeing tremendous interest in our global regulatory compliance solution and our electronic, workflow-enabled subscription document application (SEI Trade), which digitises the subscription process for private funds and reflects strong investor demand for illiquid, uncorrelated returns.

The primary fund strategies involved have been related to the private equity/real estate space along with credit and direct lending.

Which one or two regulations are most prevalent at present?
The Fatca and Common Reporting Standards regulations are in high demand from not only full administration clients, but we have also signed several large institutional clients to this service on a standalone basis. We are also seeing high demand for MiFID-related services, and our ongoing focus on transparency and reporting capabilities have allowed us to continue to provide regulatory services both as part of our full service offering, or on a standalone basis.

How have market trends in the past year shaped the demands of your clients?
While we’re still seeing clients launch new funds, Brexit continues to be a concern for our clients. The return of volatility benefits some clients and challenges others. Competition amongst managers remains keen and the impact of passives continues to challenge active managers, so SEI continues to see our clients focus on improving the investor experience.

Hence the strong interest in our digital solution for asset-raising, which enhances the investor experience, mitigates compliance risk and accelerates asset-raising.

SEI Investment – Global Fund Services Limited
Styne House, Upper Hatch Street
Dublin 2
Ireland
+353 1638 2400
www.seic.com/IMS

Country of origin: US
Global number of employees: 1,250
Total AuA: €890 billion
Total AuA in EMEA business: €41 billion
Total AuA Ucits in Europe: €24 billion
Total AuA non-Ucits in Europe: €16 billion

Senior executives in Europe: Richard Harland (London), sales director; Donal O’Neil (Dublin), head of client relations; Joseph Henkel (Dublin), head of Irish office; Graham Kennedy,(Dublin), managing director


SOCIETE GENERALE SECURITIES SERVICES
Olivier Blanc – global head – fund services operations

About how many fund launches have you supported this year and what type of strategies or asset classes has there been a trend for?
Among the funds launched by our clients this year, it is undeniable that real estate, private debt and private equity funds are the most outstanding in terms of growth. In the current low-yield environment, we noticed the launch of many more ETF funds, which are very appreciated by investors.

Which one or two regulations are most prevalent at present?
MiFID II and Priips are definitely the most challenging pieces of regulation that came into force in 2018, with still-growing concerns over their ability to support transparency and retail investors’ decisions. Heterogeneous methodologies and local approaches across Continental Europe, as well as unexpected results – notably for fund transaction cost calculations – might lead to some amendments in the coming months.

How have market trends in the past year shaped the demands of your clients?
The regulatory reporting burden is less and less sustainable by small and mid-sized entities, requiring an ever-growing effort to dedicate key resources. We are seeing a number of players selecting an outsourcing provider to perform these activities, by either looking for a global regulatory reporting aggregator, or by outsourcing the full suite of administration/reporting duties to a single service provider.

Societe Generale Securities Services
189, rue d’Aubervilliers
Paris, 75886, France
1 à 5 Rue du Debarcadère
Colombes
92700, France
[email protected]
+33 1 42 14 89 39
www.securities-services.societegenerale.com

Country of origin: France
Global number of employees: n/d
Total AuA: €651 billion
Total AuA in EMEA business: €651 billion
Total AuA Ucits in Europe: €460 billion
Total AuA non-Ucits in Europe: €105 billion

Senior executives in Europe: Bruno Prigent (Colombes) head of securities services; Olivier Blanc (Paris), global head - fund services operations; Christophe Baurand (Paris), coverage, marketing and solutions; Laurent Plumet (France), head of business development for fund administration


STATE STREET
Elizabeth Nolan – chief executive of State Street, Emea

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
New business generated significant assets and fund growth: 1% increase in Emea servicing fees and 2% increase in number of funds year-to-date.

Although from a flow perspective the majority goes into Ucits, much of the new product to market is in AIFs [alternative investment funds], namely loan/debt funds.

Onshore funds trend towards passive/smart beta, illiquid, multi-asset and yield-related strategies. Offshore, there are significant net inflows, especially into balanced funds.

Bonds and alternatives are strong, with growth in specialist funds, such as bank loan/loan origination and tax-transparent funds. ETFs drive offshore growth, followed by multi-manager funds/platforms.

Which one or two regulations are most prevalent at present?
Costs and charges disclosure, covering Priips and MiFID II at the European level, and workplace pensions and local government pension schemes in the UK. GDPR is an immediate focus, followed by money market fund reform and the SFTR.

How have market trends in the past year shaped the demands of your clients?
Clients are showing willingness to outsource middle-office and data management, and related reporting services to third-party administrators (TPAs). Clients expect TPAs to develop end-to-end processes, leveraging centrally maintained data, and driving core and ancillary services off the central data depository. Data governance and process optimisation are priorities, as are non-core services such as regulatory reporting.

Brexit remains prominent, with demand for support from managers, inside and outside the UK, launching funds to protect their continental and UK investor bases.

State Street
20 Churchill Place, Canary Wharf
London E14 5HJ
+44 20 3395 2500
www.statestreet.com

Country of origin: US
Global number of employees: n/d
Total AuA/custody: €27,644 billion
Total AUA/custody in EMEA business: €5,867 billion
Total AuA Ucits in Europe: €1,014 billion
Total AuA Non-Ucits in Europe: €3,119 billion

Senior executives in Europe: Liz Nolan (London), CEO of State Street Europe, Middle East and Africa (EMEA)


UNIVERSAL INVESTMENT
Bernd Vorbeck – chief executive officer

About how many fund launches have you supported this year and what type of strategies or asset classes are trending?
With net inflows of about €45 billion in 2017 Universal-Investment achieved significant inflows again, also due to more than 100 new funds launched for asset managers and institutional investors on our third-party administration platform. In the institutional business, we see an ongoing trend towards alternative funds, such as infrastructure, real estate or private debt. In the Ucits universe, we still see a strong demand on multi-asset funds but also on funds for professional investors with a special focus, like frontier markets debt.

Which one or two regulations are most prevalent at present?
German investment taxation act and MIFID II.

How have market trends in the past year shaped the demands of your clients?
In the last year, Universal-Investment became one of the biggest ‘ManCos’ in Luxembourg as the Grand Duchy established itself as the most important fund hub for international asset managers.

Due to Brexit, we expect a strong demand especially from UK alternative managers, and due to the low-interest environment we see strong interest among institutional investors using our platform for investments in alternative assets, like real estate, infrastructure or private debt.

Universal Investment
Theodor Heuss Allee 70
Frankfurt am Main 60486
Germany
[email protected]
+49 69 710430
www.universal-investment.com

Country of origin: Germany
Global number of employees: 670
Total AuA: €355 billion
Total AuA in EMEA business: €355 billion
Total AuA Ucits in Europe: €28 billion
Total AuA non-Ucits in Europe: €264 billion

Senior executives in Europe: Bernd Vorbeck (Frankfurt), chief executive officer; Markus Neubauer (Frankfurt), managing director; Katja Müller (Frankfurt), executive director/head of sales and relationship management; Marcus Kuntz (Frankfurt), head of sales international

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