A news release said the Luxembourg-domiciled Fonds Commun de Placement (FCP) established by Vontobel will provide a tax-transparent vehicle for investment in its global equity strategies by institutional investors in Europe and Asia. Northern Trust has been appointed to provide global custody, fund administration, investor-level tax services, and management company services.
“We were eager to launch this new, cross-border pooled fund in order to offer our clients exposure to emerging markets and support the global distribution of our equity products on a tax-efficient basis,” said Thomas Wittwer, Managing Director and Head of Marketing and Sales for Vontobel Asset Management, in the news release. “The FCP structure provides operational benefits, including the flexibility to offer other investment strategies over time.”
Outsourcing services provided by Northern Trust include trade processing and settlement, reconciliation, portfolio accounting, client valuations and reporting, foreign exchange, and other aspects of post-trade execution support.
Vontobel’s information is at http://www.vusa.com, while more Northern Trust information is at http://www.northerntrust.com.