The given information concerns ETHENEA Independent Investors S.A. as per 31.12.2019. Please be advised that during 2019 several consolidation activities have taken place.
In January 2019, ETHENEA and its sister company MainFirst Asset Management consolidated their distribution support activities in a newly formed company. With this new company, FENTHUM S.A., headquartered in Luxembourg, the competencies of the Business Development Services (BDS) teams of ETHENEA and MainFirst, as well as ETHENEA’s Product Group, will be combined and strengthened.
FENTHUM supports ETHENEA and MainFirst to distribute their funds in various markets and provides the specific product information that the BDS teams need to support and update their clients. As ETHENEA and MainFirst want to focus in future on their core business - asset management - the consolidation of distribution support in a company specialising in this area is a logical step. ETHENEA and MainFirst will remain independent. The merger of the BDS teams will result in advantages at both the country and client level, as well as in the areas of product range, service, resources, client contact, and market presence. Both asset managers had established BDS teams, but have so far focused on regionally different markets and client groups. FENTHUM now unites these local teams and their respective expertise. By consolidating the distribution support in the individual countries, the BDS teams will be strengthened in terms of personnel and can consequently reach a larger client base and offer them an optimised service. All three companies, MainFirst Asset Management, ETHENEA and FENTHUM, are majority-owned by Haron Holding. With the formation of FENTHUM, the three sister companies will focus even more strongly on their core business: a broad range of asset management solutions with excellent client service.
On October 1st, the competencies of the ETHENEA and MainFirst Marketing departments were consolidated and a total of 15 employees moved to FENTHUM S.A. This created synergies designed to offer ETHENEA and MainFirst optimum service and the best possible marketing and communication support.
Also in October 2019, the ETHENEA Accounting & Controlling, Legal & Tax, IT & Organisation, and Corporate Services teams, as well as one member of the Human Resources team, were outsourced to the newly established service company HARON Services S.à r.l.. This company acts as a central provider of back-office services for various Group entities, including ETHENEA, MainFirst, and FENTHUM.