ProService Finteco and the financial and advisory group IPOPEMA intend to expand their operations and enter a new market
ProService Finteco and the financial and advisory group IPOPEMA intend to expand their operations and enter a new market. For this purpose, both entities intend to establish a joint venture company which will provide services aimed at the investment fund companies in the scope of performing the functions of a depositary for the funds they manage. In particular, it will focus on servicing closed-end investment funds within the meaning of the Investment Funds Act and alternative investment fund managers.
The new company will operate with full autonomy and independence in relation to its founders, while maintaining the highest quality and professionalism, which is essential in providing services to the most demanding clients such as financial institutions.
The company will operate as a brokerage house under a license from the Polish Financial Supervision Authority, which it will soon apply for. The proceedings to obtain the above-mentioned permit must be preceded by obtaining the appropriate consent of the Office of Competition and Consumer Protection, for which ProService and IPOPEMA applied to the office today by submitting a relevant application.
The reason why ProService Finteco and IPOPEMA decided to enter the depository services market is the desire to capitalize on the business opportunity presented by such services. The nature of this venture is very well suited to the operations of both ProService and IPOPEMA, which have many years of experience and full knowledge of the investment funds industry.
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