A platform offering managed accounts services for onshore UCITS funds to European and international clients has been launched.
Luxembourg-based platform LUMA Solutions Services is believed to be the first independent platform offering managed accounts services for UCITS III and non-UCITS III onshore funds.
It provides onshore managed account services to UCITS and other European onshore funds with an initial asset base of $350 million (€250 million).
LUMA, is joint venture is between OFI Asset Management and Gottex Solutions Services, a services subsidiary of fund of hedge funds Gottex Fund Management.
The formation of the joint venture is subject to approval from the Luxembourg regulatory authorities.
The LUMA Solutions Services platform aims to be the most technically advanced platform in