HFFT Alternative Limited has been granted an alternative investment fund manager (AIFM) licence from the Gibraltar Financial Services Commission to provide full AIFM services to both EU and non-EU funds.
A plethora of enhanced compliance requirements including the regulatory demands under the AIFMD have strained the resources of and forced small and mid-sized firms to actively consider outsourced solutions.
AIFMD came into force on 22 July 2013 and regulates EU and non-EU fund managers that market alternative investment funds to investors domiciled, or with registered offices, in the EU.
As a confirmed AIFM license holder HFFT Alternative will be able to assist its existing European and non-European managers and AIF clients. It will provide clients with the ability to access the alternative investment fund market in the EU whilst meeting the regulatory requirements of AIFMD. HFFT Alternative will focus on providing portfolio oversight, risk and liquidity management, operational compliance functions and full regulatory reporting service for each AIF, ensuring full compliance with AIFMD.
Nicola Smith, CEO of HFFT Alternative and Gibraltar based fund administration Helvetic says that in obtaining its AIFM licence, HFFT Alternative is ideally placed to not only support small and mid-sized firms but also showcase the benefits that Gibraltar is able to offer as a leading European domicile: “With AIFMD now in full force, organisations looking to domicile their funds in the EU are being faced with a tough choice as where to locate. Traditionally, Dublin and Luxembourg have been preferred jurisdictions, however in recent years, limited capacity and cost issues in these centres have allowed territories such as Gibraltar to develop as a viable alternative.
“Gibraltar offers a number of incentives as a jurisdiction, including access to a highly skilled workforce, a supportive infrastructure of ancillary services and lower business costs, all combined to position it as an attractive fiscal environment for those looking for a gateway to Europe.
“The concerns of particularly small and mid-sized funds around AIFMD and the increased reporting requirements under the new regulations can now be addressed comprehensively at competitive cost. At HFFT Alternative it’s this market sector that we are looking to support by striving to provide full compliance under AIFMD.
“We are delighted to be able to offer a viable solution to our clients who manage funds in Europe and see this as an important step forward in our endeavours to furnish alternative managers with a platform enabling them to access the EU through our regulated services,” says Smith.
