Zürcher Kantonalbank's AM arm, Swisscanto, has expanded distribution of its Luxembourg range, the firm has announced.
The asset manager said it had made the move to broaden its base as Swiss fund providers and distributors with foreign clients need to react to local regulatory developments in target markets.
In line with this Swisscanto Invest decided to expand the registration of its Luxembourg product range to the UK, Italy, Netherlands, France, Spain and Singapore, which applies to the institutional asset classes only.
Prior to the change Swisscanto's fund range was registered for public distribution in only five countries: Switzerland, Germany, Luxembourg, Austria and Liechtenstein.
This new development covers some of the biggest Luxembourg funds of the group, for example Swisscanto (LU) Bond Fund Vision EUR, Swisscanto (LU) Bond Fund Global Absolute Return and Swisscanto (LU) Bond Fund Global Convertible funds.
In addition the firm decided to change tax transparency of the fund range in Italy according to Italian Reduced Rate Percentage (IT IRRP) and in the UK in line with the UK Reporting Fund rules.
The full list of the Swisscanto Invest fund registrations in French and German can be found here.