Xavier Duhem, Director of Depositary Services, JTC Luxembourg;
Luxembourg-based institutional and private wealth services provider JTC has received a professional depositary licence.
The Luxembourg Ministry of Finance granted JTC this licence as the firm looks to assert its capabilities to support a growing number of fund managers in Europe.
Possession of the depositary licence means that JTC, which is celebrating the tenth anniversary of its Luxembourg office this year, will now be able to offer a full range of services to alternative investment funds (AIFs) domiciled in the Grand Duchy, including depositary of assets other than financial instruments.
With JTC having operated an Alternative Investment Fund Manager entity (AIFM) in Luxembourg since 2016, the new licence will significantly strengthen its capabilities within the EU, enabling it to offer a holistic and comprehensive Alternative Investment Fund Managers Directive (AIFMD) compliant solution to private equity, real estate and other alternative managers.
The new licence also complements JTC’s non-EU solution, with the firm already having ManCo and depositary licences in Guernsey, whilst JTC is also able to offer depositary services in the UK through its partnership with Indos.
Administering around $70 billion of fund assets, JTC provides support throughout the lifespan of a fund, across the regulatory spectrum and multiple asset classes.
