Setting up a Fund in Luxembourg

[Nicholas Van Orton]

Hi everyone, though this question is mainly addressed to @Martin Everson -I mean NO disrespect to anyone!- I wonder if someone else might be able to help with my query.
We're setting up (well, have already finished setting up the advisor to the fund, an S.à.R.L. in Luxembourg) a global fund (AIF type) domiciled in Luxembourg as an SCSp (special pool vehicle). It is my job to now find the custody + brokerage solution that will allow us to deal with FX + equities. The broker side is not a problem, have a good list of names that are keen to onboard us...however, the 'problem' comes with the custodian/depository firm.
I've been browsing around some of the usual custody names (CACEISS, European Depository Bank, etc.), and, to be honest, their pricing is out of our reach, at least in the initial stages, where we'll be under $10MM AUM. I have thought of contacting Interactive Brokers (IBKR)`s institutional department to see if they could be a one-stop solution, as they are very cost effective and seem to have custody solutions on offer as well.
Other than that, and here's where I reach out for help, I can't seem to find any other-than-usual names to work with, and again, they're not suited for an initially-small fund.
Any help will be appreciated, thank you in advance.
NVO

 

[Martin Everson]

Where are the issuers of the securities you plan on holding in the fund located? You may need a full service global custodian for your AIF depending on this.

You can try Euroclear bank. Alternatively you can see what Cayman National has to offer but their service is limited.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Nicholas Van Orton]

Martin Everson said:
Where are the issuers of the securities you plan on holding in the fund located? You may need a full service global custodian for your AIF depending on this.

You can try Euroclear bank. Alternatively you can see what Cayman National has to offer but their service is limited.
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Thanks @Martin Everson , much appreciated. The fund will deal in spot FX (G10 currencies) and US equities. No problem in having 2 different custodians for this if needed, our biggest concern is the running costs of the usual firms.