Lonbard Bank Malta plc has announced it has established two new subsidiaries, named FundsLCAM SICAV plc and Lombard Capital Asset Management Limited.

Subject to relevant regulatory approvals and licenses being obtained, the bank explained the functions of said subsidiaries:

FundsLCAM SICAV plc will be a Retail Collective Investment Scheme, for collective investment in transferable securities and applicable rules and regulations.

Lombard Capital Asset Management Limited will be an Undertaking for the Collective Investment in Transferable Securities (UCITS) management company focussing primarily on the provision of investment management services to collective investment schemes and such other investment services business in terms of its license, plus ancillary services. 

The bank said it “considers this development as positively significant and one that stands to benefit all its stakeholders”.