The licence will mean Kinetic Partners will be able to host third party Ucits funds and, in the future, Alternative Investment Funds.
The company said the new licence follows the introduction of its ‘Kinetic passport’ service launched in the last quarter of 2012, which provides registration, maintenance and overview of fund distribution services for fund promoters. The service is available to all Ucits fund managers aiming to take their funds cross-border.
Kinetic Partners chief executive Julian Korek said: “The establishment of a MANCO in Luxembourg is an important part of our growth strategy going forward and has very much been on the agenda in the 12 months since we first moved into Luxembourg with the purchase of AB Fund Services in 2012.”
