What Axxion does

Axxion S.A. is a Luxembourg-based Service-Kapitalverwaltungsgesellschaft (Service-KVG / capital management company) that was founded in 2001 by Thomas Amend and Roman Mertes. It is a privately held, owner-managed company, CSSF-licensed as a management company under Chapter 15 of the Law of 17 December 2010 and as an AIFM under Chapter 2 of the Law of 12 July 2013, and is registered in the Luxembourg commercial register under B 82112. The company is headquartered in Grevenmacher, Luxembourg, and serves independent asset managers, family offices, and institutional fund initiators across Luxembourg, Germany, and Liechtenstein — explicitly excluding US and UK persons.

The company offers a full Private-Label Fund service stack: fund setup (Fondsauflage), fund administration including NAV calculation, accounting, reporting and regulatory maintenance (Fondsverwaltung), distribution support (Vertriebsunterstützung), and a dedicated KVG-switching service for migrating existing funds onto its platform. The product portfolio includes the AXX.ETF sub-brand, a broader FONDS range, and dedicated Family Office services. Technology is partially internalized: wholly-owned subsidiary Navaxx S.A. (founded 2011, Luxembourg PSF-licensed) handles central administration and transfer agency, while affiliated IT4Funds S.A. provides IT infrastructure. The group is investing in AI and automation for fund accounting and reporting and is exploring blockchain-based fund-investor connections.

Axxion generates revenue through recurring service fees for fund setup, administration, and ongoing management charged to fund initiators — a subscription-style B2B model with no retail customer relationship. It deliberately avoids proprietary investment strategies to ensure full interest alignment with clients, works with multiple depositary banks rather than a single exclusive partner (Banque de Luxembourg being the founding depositary), and acquires customers through long-term relationship-building, the annual FONDS professionell Kongress, and its own Fonds-Forum customer event. The firm grew from two founders in 2001 to approximately 100 employees and surpassed €5 billion in assets under administration by 2016, with over 100 funds under management.

Name

Axxion

Legal name

Axxion S.A.

Website

https://axxion.lu

Company type

Private

Founded year

2001

Operating status

Operating

Headcount range

11–50 employees

Short description

Axxion S.A. is a Luxembourg-based, CSSF-licensed Service-KVG founded in 2001 that provides Private-Label Fund setup, administration, and KVG-switching services to independent asset managers, family offices, and institutional fund initiators across the DACH region, operating on a recurring B2B fee model.

Ownership category

akta.pro rank

Product category

Asset Management / Fund Administration

NAICS

Portfolio Management and Investment Advice (523940)

SIC

Services-Engineering, Accounting, Research, Management (8700)

akta.pro primary industry

AML/KYC, Investor Onboarding & Compliance Services (FSAAAMAE)

Keywords

• Fund administration services
• Private label funds
• Capital management company
• Asset management
• Fund setup services

Headquarters

HQ city

Grevenmacher

HQ country

Luxembourg

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Fund Administration and Management Fees: Axxion generates revenue as a licensed Luxembourg management company (Service-KVG) by charging fees for fund setup, fund administration, and ongoing management services to fund initiators. This is a recurring service revenue model.

Go-to-market motion2 records

Distribution channels2 records

Marketing channels5 records

Core offering

Axxion S.A. is a Luxembourg-based Service-KVG (Kapitalverwaltungsgesellschaft) that establishes and administers Private-Label Funds for independent asset managers, family offices, and institutional fund initiators across Luxembourg, Germany, and Liechtenstein. Its core services cover the full fund lifecycle: Fondsauflage (fund setup/launch), Fondsverwaltung (ongoing fund administration including NAV calculation, accounting, reporting, and compliance), Vertriebsunterstützung (distribution support), and KVG Wechsel (migration of existing funds from other management companies). Axxion operates bank-independently, deliberately without proprietary investment products, ensuring full alignment of interest with its fund initiator clients.

Product overview

Axxion S.A. operates as a Luxembourg-based Service-KVG (Kapitalverwaltungsgesellschaft) providing comprehensive fund administration services for independent fund initiators. Founded in 2001 with two employees, the company has grown to approximately 100 staff members. Its core offering centers on Private-Label Fund services (Fondsauflage, Fondsverwaltung) supported by distribution support and KVG switching capabilities. The product portfolio includes AXX.ETF for exchange-traded funds, the broader FONDS product range, and dedicated Family Office services. Axxion's bank-independent model, avoiding proprietary investment strategies, enables alignment of interests with partners. The subsidiary Navaxx S.A. handles fund accounting and transfer agency operations.

Differentiator

Problem solved

Functional benefit

Brands

• AXX.ETF: ETF product offering under the Axxion brand
• Family Office

Products and services

• Fondsauflage (Fund Setup) Service for launching new Private-Label Funds on behalf of independent fund initiators, handling the full fund establishment process from conception through regulatory approval in Luxembourg, Germany, and Liechtenstein.
• Fondsverwaltung (Fund Administration)
• Vertriebsunterstützung (Distribution Support)
• KVG Wechsel (KVG Switching)
• AXX.ETF Exchange-traded fund product line offered under the AXXION brand, providing index-tracking investment solutions as part of the Axxion fund portfolio.
• FONDS (Fund Products) Range of managed investment funds administered by Axxion, including UCITS and AIF structures across various asset classes and strategies for institutional and professional investors.
• Family Office Services Dedicated services for family offices seeking to establish and administer their own Private-Label Funds with full operational, administrative, and regulatory support.

Quantifiable outcome

• Assets under management grew from €550 million (2005) to over €5 billion (2016), with continued growth thereafter
• +2 more outcomes

Named customers6 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Three partnerships are on record, tiered core.

• Navaxx S.A.coreOthersNavaxx S.A. is a 100% subsidiary of Axxion S.A., established in 2011. It is a Luxembourg-licensed central administrator (PSF) headquartered in Grevenmacher, providing fund administration and transfer agency services. It operates its own management board and is expanding into real assets administration. AI and automation investments are being made through this entity. The subsidiary enables Axxion to offer fund accounting and account administration from a single source.
• IT4Funds S.A.coreTechnology or IntegrationIT4Funds S.A. is an affiliated technology company that developed from Axxion's internal IT department. It provides technology solutions including software and infrastructure that support fund administration operations. Originally created to efficiently implement Axxion's own IT requirements at a high level, external demand led to it becoming an independent service offering that extends Axxion's capabilities.
• Banque de LuxembourgcoreChannel Partner/ Reseller/ DistributorBanque de Luxembourg was the founding depositary bank partner for Axxion starting in 2001. The relationship has continued to the present day and was described by founder Thomas Amend as a 'lucky find' that was decisive for Axxion's market entry. The bank serves as depositary (Verwahrstelle) for Axxion-managed funds.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Emerging players

• Carne Group: Carne Group is a Luxembourg-domiciled specialist in AIFM and fund governance services for asset managers seeking independent, non-bank ManCo solutions — an emerging direct competitor in the same independent-Management-Company value proposition Axxion sells.

Direct peers

• Hansainvest Hanseatische Investment-GmbH: Hansainvest is one of Germany's largest Service-KVGs, owned by the SIGNAL IDUNA group, providing fund administration and AIFM/UCITS management for institutional and third-party fund initiators — a closely comparable Service-KVG competitor in the DACH region.
• Universal-Investment: Universal-Investment is the largest independent Service-KVG in the German-speaking market, offering fund setup, administration, and AIFM services to independent asset managers and institutional clients — the same bank-independent KVG model Axxion competes in, but at significantly larger scale.
• Monega Kapitalanlagegesellschaft mbH: Monega is a Cologne-based Service-KVG affiliated with the German Sparkassen/DSGV group, providing UCITS and AIF fund administration for third-party initiators — a direct comparable in the DACH KVG switching and administration market.
• Lemanik Asset Management S.A. Lemanik is a Luxembourg-based fund management company offering ManCo/AIFM and administration services to third-party asset managers — a direct, smaller-scale peer competing in the same Luxembourg service-KVG segment as Axxion.
• IPConcept (Luxembourg) S.A. IPConcept is a Luxembourg-based fund management and AIFM company owned by the DWS/Banque de Luxembourg ecosystem, offering fund setup, administration, and ManCo services — a direct competitor in the Luxembourg Service-KVG market where Axxion originates.
• BayernInvest Kapitalverwaltungsgesellschaft mbH: BayernInvest is a Munich-based Service-KVG providing fund administration and management to institutional and third-party clients, directly competing with Axxion in the German fund administration and KVG switching market.

Broad incumbents

• Allianz Global Investors: Allianz Global Investors is a major global asset manager with broad Luxembourg- and German-domiciled fund administration infrastructure. As a large bank/insurer-affiliated incumbent, it competes indirectly with Axxion for institutional third-party mandates in the DACH region.
• DWS Group (Deutsche Bank): DWS is one of Europe's largest asset managers with extensive fund administration, KVG, and AIFM capabilities across multiple jurisdictions. It is a broad incumbent competitor with materially more resources than Axxion and overlaps in Luxembourg/German fund administration.
• Union Investment Institutional Property GmbH / Union Investment Group: Union Investment is a large DWS-affiliated German asset manager offering fund administration, KVG services, and asset management across a broad product range — a bank-affiliated incumbent whose KVG arm competes broadly with Axxion across the DACH institutional market.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlu.linkedin.com/company/axxion-kvg
• Instagraminstagram.com/axxion_sa

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Axxion