APS Bank forms new Asset Management subsidiary

ReAPS Asset Management Limited is the newly-formed subsidiary of APS Bank and will act as the investment manager of the APS Sicav plc funds.

Incorporated late in 2016 and licensed on 4 April 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 plc, 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 subinvestment 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.