FundRock has been appointed as the management company for the newly launched Primus Solutions Irish collective asset-management vehicle (ICAV), which is being distributed by Deutsche Bank.
As part of the deal, FundRock will provide the legal and regulatory framework for the ICAV and undertake the delegate oversight of the sub-fund, the Primus Fixed Income Smart Beta Fund.
Xavier Parain, CEO of FundRock, said: “We are delighted to be appointed the management company of the Primus Solutions ICAV. Our expertise and resources will allow the investment manager to focus on its core business activity without distraction.”
Vadim Totskyy, head of cross product structuring at Deutsche Bank, said: “As the global distributor, Deutsche Bank is pleased to be offering the Primus Fixed Income Smart Beta Fund to investors. FundRock is a recognised player across Europe and we look forward to helping the Primus Solutions ICAV grow.”
Earlier this month, Apex Group announced the planned acquisition of FundRock.
The transaction is subject to customary closing conditions, including regulatory approval and is expected to be completed in Q1 2021.
