Global Funds Management (GFM), a unit of Nomura Bank (Luxembourg), has secured a licence to launch operations as an UCITS management company.
The licence will enable GFM to increase its third party clients in Europe, Asia, as well as the US.
At the same time, the move will allow Nomura Bank (Luxembourg) to expand its depositary services to UCITS.
GFM, along with Nomura’s Luxembourg subsidiary, offers asset management, custody and administration services for investment funds.
GFM already has an alternative investment fund manager status and currently manages €10.4bn in assets.
GFM general manager Jean-Francois Caprasse said: “Ucits is a strong brand which stands for quality and robustness of the investment fund and its main service providers. The granting of this licence means we can now offer a full range of product structuring opportunities to asset managers and distributors around the world.”