BIL Manage Invest, the third-party management company of the Banque Internationale à Luxembourg (BIL) Group has received approval from the CSSF_ to launch its Lux Multimanager SICAV, a hosted “rent-a-compartment” UCITS fund platform.
Lux Multimanager SICAV provides third-party investment managers, fund initiators and other fund promoters (managers) of investment funds with a fully UCITS-compliant umbrella fund platform within which they can manage a sub-fund (compartment) in accordance with their own investment strategies. BIL Manage Invest has appointed RBC Investor Services Bank SA in Luxembourg to provide custody, central administration and domiciliary services to the platform.
The managers are appointed by BIL Manage Invest (in its capacity as management company to the SICAV) as investment manager and distributor to the manager’s own dedicated sub-fund(s). The managers benefit from the efficiencies provided by the pre-existing structure of the platform in terms of sharing of costs, existing middle and back office operating model, tried and tested systems, and quick time to market. The platform solution provides such managers with a fully UCITS-compliant sub-fund which they are able to market within the EU without the need to establish their own fund and/or management company substance in Luxembourg or in another EU member state.
Alexandre Dumont (pictured), CEO of BIL Manage Invest, says: “The launch of Lux Multimanager SICAV complements and completes the range of UCITS management company and Alternative Investment Fund Manager (AIFM) services offered by BIL Manage Invest to third-party managers. BIL Manage Invest can now assist our clients in setting up and running dedicated, standalone funds or sub-funds within our rent-a-compartment platforms as fully UCITS- or AIFMD-compliant structures. As an institutional-grade third-party management company backed by a major banking group, BIL Manage Invest provides the necessary substance, capital and infrastructure to our clients, relieving them of much of the burden of structuring, setting up and running their investment funds in Luxembourg”.