Ocorian has been authorised to act as a depositary to Alternative Investment Funds (AIFs) in Luxembourg after approval from the Ministry of Finance.
The depositary service is open to EU Alternative Investment Fund Managers (AIFMs) managing EU AIFs and non-EU based investment managers wishing to market their EU or non-EU AIFs in the EU.
Ocorian already offers depositary capabilities in London and Jersey to closed-ended structures holding non-financial instruments.
Ocorian is also authorised to provide depositary lite services to AIFMs looking to market their AIFs in accordance with AIFMD rulings.
Philip Bolton, managing director of alternative investments, Europe at Ocorian, said: "Obtaining this license is a testament to the high standard of work Ocorian has been doing as a depositary across our European network to date, and our ability to meet shifting market demands. This expanded service offer is in complement to the other fund administration and accounting services we have been providing in Luxembourg for a number of years."
Jean-Marie Bettinger, head of Luxembourg and the Netherlands at Ocorian, commented: "This approval enables Ocorian to add another facet to its local toolbox and is a fantastic opportunity to strengthen the full value chain in our funds services offering in Luxembourg.”
She added: "Our fund service offering is now fully aligned with the market’s expectations and enables our clients to leverage on our experience in the alternative investments sector."
