Luxembourg: TMF Fund Services Luxembourg Approved To Act As Depositary For AIFMD Funds
Last Updated: 14 July 2016

TMF Fund Services (Luxembourg) S.A. now offer a full suite of fund administration, transfer agency and depositary services.

Luxembourg, 13 July 2016 – Following authorisation by the Commission de Surveillance du Secteur Financier in Luxembourg, TMF Fund Services (Luxembourg) S.A. can now act as Depositary for AIFMD funds.

In accordance with the AIFMD, TMF Fund Services (Luxembourg) S.A. (the Depositary) is now authorised to supervise the activities of fund managers in order to protect investors in the fund, under the law of 5 April 1993 on the financial sector ("LFS") Article 26-1, applicable to professional depositaries of assets other than financial instruments.

TMF Fund Services

is authorised to put into depositary the following assets:

  • Real estate – direct investments into properties, co-financing via loans (club deals), and infrastructure
  • Private equity – participations into SPV, direct participations in businesses, holdings or other structures holding real estate and debt (senior, junior, mezzanine)
  • Funds - Real estate funds and private equity funds
  • Commodities – all
  • OTC financial instruments – OTC Financial instruments for hedging purposes (explicitly not for speculative purpose)
  • Other tangible or intangible assets – licenses.

Bruno Bagnouls, Global Head of Alternative Investments at TMF Group, commented: "We are delighted to be able to add depositary services to our offering as we continue to focus on the alternative investment structures subject to the AIFMD.

"Our global presence coupled with our expert local knowledge puts us in pole position for delivering a complete portfolio of services for fund managers. We make use of our extensive internal network when, for example, requesting the provision of ownership certificates or closely following the cash flow within global investment structures."

Jonathan Jennings, Managing Director of TMF Luxembourg, added: "A Depositary is expected to act honestly, fairly, professionally and independently; in the interest of the AIF and its investors. By choosing TMF Fund Services, clients benefit from our pragmatic approach, thorough knowledge of the fund industry and sector expertise."

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