Luxembourg-based third-party investment fund manager Lemanik Asset Management S.A. (Lemanik) has appointed Alessandro Silvestro as managing director in Asia Pacific to oversee its European-domiciled fund business in the region.
Mr. Silvestro is based in Lemanik’s newly opened office in Hong Kong. He will join the management committee and report to Group Chief Executive Officer Phillippe Meloni, the company says in a statement on June 18.
Mr. Silvestro was previously with Standard Chartered Hong Kong, where he was head of sales, focusing on the insurance segment in Asia.
“Asian clients are probably the most demanding and sophisticated in the world. Our onshore presence will elevate and differentiate our offering, immediately addressing our clients’ needs,” he says in the statement.
Traditional and alternative managers in Asia are keen to set up funds and investment vehicles such as Undertakings for Collective Investment in Transferable Securities (UCITS), alternative investment funds (AIF), reserved alternative investment funds (RAIF) and the Irish Collective Asset-Management Vehicle (ICAV), according to Lemanik.
Currently, about 20% of the company’s clients are from Asia Pacific.
Asia Pacific is a “key strategic region” for Lemanik, and the opening of the Hong Kong office [in June 2018] “demonstrates the company’s commitment to the region and its clients”, Mr. Silvestro tells Asia Asset Management.
“Our Asian presence, financial viability and stable shareholder structure, position Lemanik as Super Manco of reference to support Asia Pacific UCITs, AIFs, RAIFs or ICAVs projects,” he says.
A Super Manco or a super management company is a company which supports regulatory compliance and operating requirements for both UCITS and AIFs.
UCITs are mutual funds authorised for sale in Europe and governed by European Union regulations. AIFs include hedge funds, private equity funds and real estate funds.
Lemanik has over US$30 billion of assets under management at present.