VP Fund Solutions (Luxembourg) has assumed the management company activities of Carnegie Fund Services with effect from 01 October 2018, following its departure from the market.
The custodian function is also exercised by Luxembourg-based VP Bank (Luxembourg) on the same date. At the same time, portfolio management will continue to be performed by Carnegie Investment Bank Stockholm and Copenhagen.
This concerns all of the Luxembourg investment funds of the Carnegie Investment Bank in Sweden and Denmark. Its complete range of Luxembourg traditional and alternative investment funds with a total volume of just over €1bn is included. The investment funds were successfully migrated as at 01 and 16 October 2018.
“Securing this new commission with Carnegie has enabled us to make a successful entry into the Nordic Market. Further discussions with other independent asset managers are currently ongoing,” said Eduard von Kymmel, head of VP Fund Solutions.