APS Bank forms new Asset Management subsidiary

ReAPS Asset Management Limited, bringing a new element to banking in Malta, 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 to manage the APS SICAV p.l.c., which earlier this year was converted into a UCITS scheme. The Bank 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.

APS Bank forms new Asset Management subsidiary