The BoD of ICBC (Europe) UCITS SICAV has appointed of Lemanik Asset Management (Lemanik) as its Management Company as of 3 May, 2021.
The UCITS fund has currently two sub-funds: the China Opportunity Bond Fund and the ICBC Schroders Belt and Road Bond Funds, with ICBC Asset Management (Global) Company Limited (Asia) as Investment Manager and Schroder Investment Management (Hong Kong) Limited as Sub-Investment Manager for the second subfund.
The new management company, Lemanik, will also provide value added services to the Fund that were previously performed by other service providers or by the Board directly. This operating model will allow the SICAV to focus on its core business while having a more efficient & centralised outsourcing model enabling synergies, legal and operational costs savings.
Philippe Meloni, CEO Lemanik Asset Management, says: “ICBC has always been a name at the very top of our list. We have once again proved our leadership as the largest EU third party Management Company to Asia Pacific clients”.
Dimitri Brunwasser, Member of the Executive Committee – Sales & Client Services at Lemanik Asset Management, says: “Our relationship with ICBC started over 10 years ago. In 2015, Lemanik appointed ICBC as their RQFII custodian for one of our common clients but also for the RQFII quota of Lemanik. We obviously see a huge potential to this relationship with the Belt & Road initiative and the 2021 EU-China Comprehensive Agreement on Investment. Today, in Europe and other continents, there is a strong demand for China-strategy funds, whether fixed-income, equities or real assets. Partnering with an iconic brand like ICBC is an enormous opportunity for Lemanik and we will go the extra mile to enable ICBC to succeed and achieve their objectives in Europe for the SICAV”.
