Fund Services

Our LLB Fund Services AG is one of the leading fund service providers in Liechtenstein and is an important growth-driver for the LLB Group. It provides a broad spectrum of comprehensive services including made-to-measure funds, both in-house and for independent asset managers and other fund promoters, which it structures and administers, as well as providing state-of-the-art risk management.

LLB as custodian bank

At the end of 2014, the Liechtensteinische Landesbank was serving as a custodian bank for more than 230 investment funds with a fund volume of around CHF 10 billion. Measured against the number of mandates, the LLB is the market leader in Liechtenstein. As a custodian bank for external funds, the LLB has acknowledged expertise in the management and administration of complex fund mandates having various strategies and investment markets.

Private labelling

LLB Fund Services AG puts in place made-to-measure investment solutions for independent asset managers and other fund promoters such as family offices. It has made a name for itself as a specialist particularly in the field of private labelling. Fund Services takes care of the setting up and the legal engineering of the fund, as well as the administration and organisation of the custodian bank function.

Private label fund solutions are very individual. Many of our client advisers call on their decades of experience to find solutions for the special requirements of each client. Fund Services offers innovative high-quality, highly flexible solutions for the most varied of investor needs.

Focused organisational structure

In 2014, a time of consolidation in the European fund market, we established a solid foundation for sustained success. This business area commenced 2015 with a new organisational structure. By merging the previously two parallel companies, LLB Fondsleitung AG and LLB Fund Services AG, the Liechtensteinische Landesbank has bundled expertise and experience in fund business with professional investors. LLB Fund Services AG now manages assets of over CHF 6 billion and employs 22 staff. This concentration of core competences corresponds to the Focus2015 strategy of the LLB Group.

Risk management

To further enhance its competitiveness, in 2014 LLB Fund Services increased its level of automation, improved processes, reduced complexity and revised its pricing model. Furthermore, the company invested in a new risk management system, and since the end of 2014 now has its own Fund Risk Management & Reporting Department. This move reflects our view that risk management is becoming an ever more important integral part of fund management. In leading the way in Liechtenstein fund business, LLB Fund Services will further develop its risk management in 2015.

Regulation in the EU in the form of the UCITS IV directive (Undertakings for Collective Investment Securities Directive) and the EU directive concerning alternative investment fund managers (AIFMD) is leading to more strict standards for the management of investment funds in the EU – and therefore in Liechtenstein as an EEA state.

Switzerland has begun to harmonise its local legislation to counter the isolation of the Swiss fund industry. With the partially revised collective investment law and the ordinance concerning collective investments of 1 March 2013 the general stipulations for the organisation and operational structure of investment funds and the duties of risk management were more clearly defined.

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