Fund Services

The Fund Services Business Area is the fund competence centre of the LLB Group and an important earnings pillar having growth potential. In 2017, thanks largely to net new money inflows, assets under management climbed to CHF 13.9 billion.

Private labelling

LLB Fund Services AG is one of the three largest fund service providers in the Liechtenstein financial centre and has established a name for itself as a specialist in the field of private label funds. Depending on the client’s requirements, private label funds can be structured according to Liechtenstein or EU law. These fund solutions are very individual and are ideally suited for efficient asset management and as structuring alternatives for large volumes of assets. Irrespective of whether a fund is set up for a limited group of investors or is offered to the public, the level of investor protection is the same.

Established according to the concept of an “all-in-one shop”, Fund Services offers a comprehensive range of services. We plan and set up made-to-measure funds both in-house and for independent asset managers, family offices and other promoters. We structure and manage these vehicles and ensure state-of-the-art risk management.

LLB as a custodian bank

At the end of 2017, LLB was serving as a custodian bank for 255 funds and again extended its position as the market leader in Liechtenstein. Twenty years ago, LLB took over the function as the custodian bank for the first private label funds in Liechtenstein. As a pioneer in this business, it has acknowledged experience and expertise in the management and administration of complex fund mandates having various strategies and asset classes.

EU passport for UCITS and alternative investment funds

With a share of 0.3 percent of the fund market, Liechtenstein is one of Europe’s fund boutiques. Thanks to its membership of the EEA, however, it is the only country having unlimited access to two economic areas, i.e. Switzerland and the European Union.

On account of the UCITS (2011) and AIFM (2013) laws, which are based on European legislation, Liechtenstein alternative investment funds (AIF) and alternative investment fund managers (AIFM), as well as UCITS funds, enjoy unlimited access to the 28 EU and EEA / EFTA states.

Growth potential in Switzerland

The new double taxation agreement (DBA) between Liechtenstein and Switzerland came into effect in January 2017. As a custodian bank, and the first financial institute in Liechtenstein, LLB in close cooperation with LLB Fund Services AG, can enable its clients to obtain a refund of Swiss withholding tax. This opens up new, interesting asset structuring possibilities for Swiss clients.

In February 2018, Liechtensteinische Landesbank signed a purchase agreement to acquire the shares of LB(Swiss) Investment AG, Zurich. This takeover, in line with its strategy, provides the LLB Group with access to the Swiss funds markets and therefore enables a strong expansion of its fund business. In future, it will conduct this business from out of three locations, namely, Liechtenstein, Austria an Switzerland.