Lifemark kept in administration for six more months

Laura Miller
clock •

The Luxembourg regulator has renewed Keydata backer Lifemark's administration period for another six months.

The Commission de Surveillance du Secteur Financier (CSSF) made the request to the Luxembourg district court on 12 August. KPMG's Eric Collard, the fund's administrator, will continue to manage the financial restructuring of Lifemark with extensive management powers, in order to plug its short term liquidity problem and avoid insolvency. The court has confirmed the measure to extend Lifemark's administration period is in itself is not to be considered as an insolvency procedure. It says the CSSF and the FSA are continuously working together in "close co-operation" in regard to Life...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Baillie Gifford workforce faces 10% reduction following voluntary exit programme

Baillie Gifford workforce faces 10% reduction following voluntary exit programme

Around 160 roles vacated

clock 23 September 2026 • 1 min read
Nine SJP funds flagged for underperformance in AoV despite improvements on last year

Nine SJP funds flagged for underperformance in AoV despite improvements on last year

89% of assets given green light

Alex Sebastian
clock 22 September 2026 • 2 min read
The human advantage in an AI-powered asset management industry

The human advantage in an AI-powered asset management industry

'AI should be used to enhance, not replace, human engagement'

Apiramy Jeyarajah
clock 22 September 2026 • 5 min read