Amicorp Fund Services, the international specialist fund services group, has secured a fund administration licence from the Astana International Financial Centre (AIFC), Kazakhstan's financial hub, making it the first provider to be awarded a licence in this jurisdiction.
In a statement on 31 July, it said the licence adds to Amicorp Fund Services' seven other fund administration licences and "reaffirms its commitment to offering a diverse range of solutions, including unlocking new opportunities for asset managers, institutional investors, and family offices in up-and-coming emerging markets".
Kazakhstan was strategically positioned at the centre of the New Silk Road investment corridor that links Asia and Europe and a jurisdiction that has seen a significant rise in foreign direct investments.
More than 80% of goods currently exported from China and Central Asia to Europe goes through Kazakhstan, it said.
Kin Lai, chief executive officer of Amicorp Fund Services, said: "Our new licence means we can now offer on-the-ground support for fund sponsors and promoters, family offices, as well as asset managers, to help them get set up quickly and to meet their ongoing regulatory requirements.
"As the first player in our field to be granted a fund administration licence in Astana, we see this as a significant opportunity to work alongside the AIFC and for us to provide the back and mid-office support for local and international fund managers looking to take advantage of the opportunities presented by this exciting emerging financial centre."
The strong investment flows going through the country make the AIFC an increasingly important hub for financial markets across Central Asia, Amicorp further said. It also offers attractive investment incentives and has a strong regulatory framework that aligns with international standards, making it a highly effective and secure platform to create and build fund structures for a wide range of investment needs.
Those are expected to include real estate and private equity investment funds that focus on the infrastructure opportunities being established across Kazakhstan and the wider Central Asia region; funds that invest in venture capital that are benefitting from an uplift in technological innovation and are being supported by various government initiatives in the local market at the moment; funds that invest in alternative asset classes such as equities, fixed income instruments, commodities or other liquid assets, and funds that provide efficient and flexible vehicles to support specific wealth management plans.
