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Banque et Caisse d’Epargne de l’Etat Luxembourg (Spuerkeess) has announced that it will be moving the majority of its fund portfolio to Euroclear FundsPlace, as part of its efforts to streamline its fund business. The Luxembourg bank has decided to move away from transfer agents and centralise the distribution and execution services of its funds. Euroclear’s funds platform, will manage the lion’s share of Spuerkeess’ portfolio from now on and collect trailer fees on external custodians as well.
“We are delighted to see Spuerkeess’ decision to intensify its collaboration with Euroclear. This move is a...
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