Amicorp FS (UK) Plc announced the completion of the demerger of Amicorp Luxembourg SA on 22 November in a press release, a move aimed at expanding its operations in Luxembourg’s fund services market.

This demerger separated the fund administration part of Amicorp FS’s existing jurisdictional licence within the Amicorp Group, paving the way for an application for an additional depositary lite licence. This new licence, expected in 2024, is set to enhance the group’s administration business by offering more services and revenue opportunities.

A depositary lite licence facilitates various services, including cash flow monitoring, safekeeping of assets and ongoing oversight.

Amicorp FS anticipates that this licence will bolster its presence in the market, allowing for collaboration with other service providers such as legal firms, investment advisors, and asset managers, the company stated. This move is projected to extend the group’s reach to new prospects.

Kin Lai, chief executive officer of Amicorp FS, highlighted the significance of Luxembourg in the company’s growth strategy. He mentioned in the announcement that the expansion in Luxembourg and other key markets is part of a broader plan to accelerate growth through both organic means and acquisitions. Lai emphasised the company’s commitment to providing “a comprehensive and tailored range of services--including fund set up and structuring, fund administration, investor services, assurance, and governance services.”

Amicorp FS, part of the Amicorp Group, serves a diverse client base, including institutional investors, fund managers in private equity, venture capital, hedge funds and family offices. The group provides specialist services across global markets and manages over 460 active funds.