Arendt helped a major Chinese bank to enter the European fund market by launching its proprietary Luxembourg R-QFII UCITS - newsflash - 02.12.2014

Arendt & Medernach’s teams in Luxembourg and Hong Kong have advised ICBC (Europe) S.A. throughout the process leading up to the approval by the Luxembourg regulator (the “CSSF”) of their first Luxembourg R-QFII UCITS.

02/12/2014

Arendt & Medernach’s teams in Luxembourg and Hong Kong have advised ICBC (Europe) S.A. throughout the process leading up to the approval by the Luxembourg regulator (the “CSSF”) of their first Luxembourg R-QFII UCITS. It is the first time a Chinese bank has tapped the European investment fund industry by setting up a proprietary UCITS structure, which will help the group to position itself on Europe’s private banking and asset management markets. For Michèle Eisenhuth, Investment Fund Partner at Arendt, “the setting up of a UCITS platform enables asset managers to seize the full potential and capabilities of Luxembourg in order to bridge the European and Chinese markets. The choice of Luxembourg for such a UCITS platform shows that Asian actors are actively using Luxembourg to access the European markets”. According to Stephane Karolczuk, Head of Arendt’s Hong Kong Office: “this will pave the way for the asset management arms of a number of Chinese and Asian banks willing to offer China-centric fund products on the European market. Luxembourg is the European hub for these activities with its top positions in essential sectors such as RMB funds using QFII, R-QFII as well as the Stock Connect between Hong Kong and Shanghai. We are looking forward to receiving shortly our own Luxembourg R-QFII quota to further develop the scope of services and products available in Luxembourg in the RMB sphere”.

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Michèle Eisenhuth

Michèle Eisenhuth is a Partner and Co-Chair of Arendt. “I thrive to be a trusted partner for my clients with whom I work hand in hand to find pragmatic solutions to get them out challenging situations and to anticipate their needs.” She specialises in asset management. Over her 30 years career at Arendt, Michèle has represented large international asset management groups in their fund structuring and complex reorganisation operations. She also sits on the boards of directors of several funds and investment fund managers of international groups. Board of directors of the Association of the Luxembourg Fund Industry (ALFI) since June 2017 Co-Chair of the Asset Management and Investment Funds Co...

PARTNER CO-CHAIR

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