Mirabaud opens Luxembourg investment management hub
Genevan asset manager Mirabaud has opened up a Luxembourg management company from which it plans to base all of its investment fund activities, including administration, management and distribution of funds.
The new firm, Mirabaud Asset Management (Europe), gained regulatory approval from Luxembourg’s local regulator the Commission de Surveillance du Secteur Financier on 15 April 2011.
Under that banner, Swiss group Mirabaud is moving all the distribution, management and administration activities for its investment vehicles within Luxembourg. Initially, that will apply to funds under Luxembourg law, but funds held under French, Spanish and British law will also be transferred across, it said.
Driving the change was the need to comply with UCITS IV, an EU directive aimed at making investment funds marketable in any country within the EU. The regulation comes into effect on 1 July 2011, but Luxembourg was the first EU Member State to implement the law on 1 January 2011.
“This will make it easier to market our funds in all EU countries and will allow us to concentrate and consolidate investment fund management in a single location. We are also proud to be the very first management company to comply with the UCITS IV requirement,” said Lionel Aeschlimann, Managing Partner and Head of Asset Management at Mirabaud (pictured above).
Leading the management company is Carine Laurent-Jayer and Marlène Valentin. Laurent-Jayer spent nearly 15 years with PricewaterhouseCoopers as an audit director in its asset management group.
Valentin was operative fund manager for Mirabaud and director of two self-governed open-end investment companies, Mirabaud Equities and Mirabaud Select Equities, for two years. She is a qualified European chartered financial analyst.
They will be supported by the firm’s Board of Directors, who include Aeschlimann, Giles Morland, another managing partner at Mirabaud & Cie, and Jérôme Wigny, partner at Luxembourg law firm Elvinger Hoss & Prussen.
Marketing and management of assets will be handled by other parts of the Mirabaud Group, while fund administration and registry maintenance will be delegated to Pictet & Cie (Europe) in Luxembourg City.