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2017 Guide to setting up an Alternative Investment Fund in Europe

Wed, 21/06/2017 - 17:28

The 2017 edition of GFM's Guide to setting up an Alternative Investment Fund in Europe, focuses on AIFs, AIFMs, regulation and compliance, choosing a European domicile, selecting service providers, and fundraising and distribution.

The '2017 Guide to setting up an Alternative Investment Fund in Europe' special report comprises 11 separate articles listed below, these can be read individually or as a sequence.
Sunil Golpalan, Hedgeweek

2017 Guide to setting up an Alternative Investment Fund in Europe

Wed, 21/06/2017 - 17:34

Welcome to the 2017 edition of GFM's Guide to setting up an Alternative Investment Fund in Europe. It is the first of a two-part series, the second part will focus on setting up an AIF in the USA, and will be published later this year. »

James Williams, Hedgeweek

Setting up an AIF in Europe

Wed, 21/06/2017 - 17:41

By James Williams – 1. Choosing the Fund’s European Domicile: One of the hardest decisions for any start-up or established manager wishing to launch a European Alternative Investment Fund is picking the most suitable jurisdiction. Europe has multiple fund centres, including Luxembourg, Ireland, Malta and The Netherlands, each of which offers something slightly different. Due care and consideration of all the options is therefore vital before the manager engages with legal counsel to commence the fund set-up phase.  »

Wayne Atkinson, Collas Crill

Raising funds in Europe: Private placement still works

Wed, 21/06/2017 - 17:46

What does the future hold for the raising of funds in Europe? Wayne Atkinson (pictured) of Collas Crill, on behalf of the Guernsey Investment Fund Association, takes a closer look… »

Kavitha Ramachandran, Maitland

There’s a place for both RAIFs and SIFs

Wed, 21/06/2017 - 17:50

Traditionally, Luxembourg's fund industry has always been based on the products being regulated. Both UCITS funds, and Specialised Investment Funds (SIFs) under AIFMD, work on this premise. However, the Grand Duchy was quick to realise that given AIFMD is manager regulation, it created a double layer of regulation for alternative investment fund managers (AIFMs) wishing to run alternative investment fund (AIF) products.  »

Nicholas Warren, Chetcuti Cauchi Advocates

Malta: Europe’s sunshine jurisdiction

Wed, 21/06/2017 - 17:54

Malta hosts a wide range of service providers, all of whom are well versed in structuring and supporting alternative investment funds, fund administration, risk management and so on. According to the MFSA's statistics for Q1 2017, Malta had 26 recognised fund administrators, 115 Category 2 investment services groups, and 153 Company Service Providers.  »

Peter Jakubicka, Circle Partners

Standing out from the crowd: The Netherlands

Wed, 21/06/2017 - 17:59

Across most EU jurisdictions, either the management company or the AIF needs to be licensed and requires some form of approval process. The Netherlands, however, is the exception to the rule. Under its light regime, neither needs to be licensed or supervised at all. This makes it a fast, efficient and cost-effective option for start-up managers.  »

Jack Seibald, Cowen

Choosing your prime broker

Wed, 21/06/2017 - 18:03

When setting up as a new hedge fund manager, one of the most important relationships to establish is that of the prime broker. With banks facing regulatory pressures in the form of Basel 3, many are re-appraising their client book to ensure that they are getting a suitable return on investment for the balance sheet they provide. Consequently, the first point for start-ups to focus on is to articulate what they will be doing with the fund they are planning to launch.  »

Charles Gillanders, Quintillion

Getting to grips with regulatory reporting

Wed, 21/06/2017 - 18:09

Regulatory reporting has become a critical component of running an alternative investment fund. This requires well-developed data sourcing and data management processes to help ensure that fund managers remain compliant.  »

Williams Jones, MPL Management

The ‘Anti-ManCo’ ManCo

Wed, 21/06/2017 - 18:13

MPL Management (Luxembourg) SA is a third-party `Super Management Company' providing fund governance, operational support and oversight to both UCITS funds and AIFs. It is part of MPL Group, founded by William Jones in 2006, who has, over the past 26 years, helped set up more than 100 funds in his career.  »

Andrew Frost, Lawson Connor

The ‘plug and play’ fund solution

Wed, 21/06/2017 - 18:16

Typically there are three options for managing external money: using managed accounts, setting up a dedicated fund structure or launching a fund on a regulated fund platform. »

Mike Delano, PwC

Luxembourg has the tools to support global distribution ambitions

Wed, 21/06/2017 - 18:19

Luxembourg is one of the world's leading onshore domiciles where, over the last 30 years, it has become the default option for managers wishing to establish UCITS funds. It is, by size, the world's second largest fund centre after the US, and, from a funds expertise perspective, offers managers everything they need; not just for UCITS funds but also unregulated or regulated alternative fund structures under AIFMD.  »

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