“VP LUX, in rolling out vp.FUND HUB®, wants to be an enabler to this transition” says Jan Vandendriessche, Head of Fund Platforms at VP LUX. Dematerialisation, CSDR, TARGET2-Securities (T2S), and the drive to have even more efficient Transfer Agent operations allow for changes in the fund industry if the right infrastructure is in place. He adds, “For us the scenario, where we as CSDs will enable further success of Luxembourg Funds, is tangible”

“The important question is when should Transfer Agents actively change their business model and embrace this future? Do not wait too long! Taking into account budget cycles and planning you may find out that you will need to act sooner rather than later if you want to pick up efficiency gains. VP LUX offers an incremental approach, so that Transfer Agents can take steps and gradually offer their clients the benefits of cost reduction and security derived from automation”, says Jan Vandendriessche

VP LUX has launched the tried and tested distribution platform vp.FUND HUB® in Luxembourg. Building on a successful track record of more than 12 months of international fund distribution out of Denmark, this new infrastructure has been adapted to cater for Luxembourg’s Transfer Agents, Issuers and the wider fund distribution eco-system.

“We are already in dialogue with some of Luxembourg’s Transfer Agents, International Investors and potential partnering institutions. Our goals are to future proof them with regards to, amongst other things, Dematerialisation and help them connect to T2S. We will carefully ensure that this new offering supports our users’ business processes”, says Jan Vandendriessche.

In Denmark vp.FUND HUB® has already distributed funds internationally, with a volume surpassing SEK 8 billion and EUR 0.7 billion.

“All in all, fund distribution through vp.FUND HUB® and the network of CSDs provides safe, robust and rapid distribution with a low risk profile,” says Bjørn Stendorph Crepaz, Head of Issuance & Safekeeping, CSD Services, at VP SECURITIES in Denmark.