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Philippe Burgener Komfie Manalo, Opalesque Asia: Having a Luxembourg ISIN code will help funds in their distribution and success, according to Philippe Burgener, a counsel at an independent Luxembourg law firm Elvinger, Hoss & Prussen.
Burgener told participants at the recent Opalesque Luxembourg Roundtable, "We had a non-Luxembourg based client who had a non-Luxembourg UCITS. The fund had a very good performance but was only sold in the client's jurisdiction. He then wanted to passport it into other countries, but he didn’t gain any traction. He came to us for advice and we told him quite bluntly, 'Having a Luxembourg ISIN code will help in the distribution.’"
He added that indeed once that client had his Luxembourg ISIN code, his fund just exploded.
That is a very clear sign that there is a very strong Luxembourg brand in the fund space that people can build on, he said.
The International Securities Identification Numbering or ISIN system, is an international standard set up by the International Organization for Standardization (ISO). It is used for numbering specific securities, such as stock, bonds, options and futures.
Luxembourg’s advantage over Ireland
Burgener believes that "one of the bigger advantages of Luxembourg, especially when compared with Ireland, is that Ireland is essentially a servicing center wh...................... To view our full article Click here
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