JTC Enhances European Fund Platform With Luxembourg Professional Depositary Licence

JTC has been granted a depositary licence by Luxembourg’s Ministry of Finance as the firm looks to assert its capabilities to support a growing number of fund managers in Europe.

In being granted the licence by the Minister of Finance, JTC, which is marking the tenth anniversary of its Luxembourg office this year, is now able to offer a full range of services to alternative investment funds (AIFs) domiciled in Luxembourg, including depositary of assets other than financial instruments.

With JTC having operated an Alternative Investment Fund Manager entity (AIFM) in Luxembourg since 2016, the new licence significantly strengthens its capabilities within the EU, enabling it to offer a holistic and comprehensive Alternative Investment Fund Managers Directive (AIFMD) compliant solution to private equity, real estate and other alternative managers.

The new licence also complements JTC’s non-EU solution, with the firm already having ManCo and depositary licences in Guernsey, whilst JTC is also able to offer depositary services in the UK through its partnership with Indos.

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“Being granted this licence puts us in a very strong position in Luxembourg to provide a full service, one-stop-shop to fund managers’ clients, building on our existing and highly successful strategy in the jurisdiction. We have already received significant interest in our new depositary service and, particularly against a backdrop of Brexit-driven uncertainty, we fully expect this trajectory to continue, as Asset Managers look for a robust, seamless and certain platform to support their EU distribution ambitions.”

Vincent Goy, Chairman and Managing Director of JTC Luxembourg, added:

“JTC is committed to providing fund managers with a flexible and truly global service and this new depositary licence is a reflection of that, adding considerably to our Group-wide optionality whilst also underlining our focus on Luxembourg as a key jurisdiction. It reinforces our position as a leading fund services provider within the EU and creates an enhanced and highly attractive proposition in Luxembourg to cater for the wide-ranging and often complex needs of clients.”

Administering around $70 billion of fund assets, JTC provides support throughout the lifespan of a fund, across the regulatory spectrum and multiple asset classes.

Find out more about our depositary services.