Ashurst LLP, Luxembourg branch, advised Investec W&I International PCC Limited ("Investec") with its redomiciliation from Guernsey to the Grand Duchy of Luxembourg. The fund, managed by Investec Investment Management, now qualifies as a UCITS, with assets under management of approximately USD 5 billion.
This migration is not only an important step for Investec but also showcases the attractiveness of the Grand Duchy of Luxembourg and the UCITS label. The Ashurst investment funds team, which worked on the redomiciliation, was led by partner Antonios Nezeritis, who was assisted by counsel Marc Hirtz, senior associate Frank Noesen and associate Thécla Madonna.
The successful redomiciliation of the offshore funds to Luxembourg opens up new international distribution opportunities for Investec, allowing us to better serve our clients and expand our reach within the European market," Joubert Hay, CEO of Investec Wealth & Investment International, a division of Investec.
Antonios Nezeritis: "We are very proud to have assisted Investec with such a complex migration involving a non-EU vehicle. This redomiciliation is a testament to the strength of the UCITS brand as well as of Luxembourg as the premier jurisdiction for investment funds in Luxembourg with an experienced and comprehensive regulator. On behalf of the entire Ashurst team, I would like to thank Investec for their confidence and support".
About Investec
Investec partners with private, institutional, and corporate clients, offering international banking, investments, and wealth management services in two principal markets, South Africa, and the UK, as well as certain other countries.
The Group was established in 1974 and currently has 7,900+ employees. Investec has a dual listed company structure with primary listings on the London and Johannesburg Stock Exchanges.
