ReAPS Asset Management Limited is the newly-formed subsidiary of APS Bank which will act as the investment manager of the APS SICAV p.l.c. funds.
Incorporated late in 2016 and licensed on 4th April, 2017 as a Category License 2 holder by the Malta Financial Services Authority, ReAPS will be taking over from the Bank the management of the APS SICAV p.l.c., which earlier this year was converted into a UCITS scheme.
In a statement the Bank said it will also retain its status as the main reseller of the APS Income and Ethical funds and will also provide sub-investment management services to ReAPS.
“The formation and licensing of ReAPS mark the intentions of APS Bank to continue building its investment management capabilities and attest to the growth and performance potential of the APS Funds as well as other future investment products”, commented APS Bank Chief Financial Officer, Noel McCarthy.