Managers
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.
The latter is best thought of as a halfway house option and is particularly suitable to those launching with EUR10 to EUR30 million in AUM, or even less. The beauty of the fund platform is not only does it provide efficient speed to market, it allows fund managers to concentrate on what they are good at, operating with a lean team that helps to keep management company costs to a minimum.
The Lawson
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.
In 2008, Jones decided upon Luxembourg as his preferred European base for directorship services. At the time, he had no specific interest in setting up a management company.
“The premise I operate from – and why I refer to MPL as the `anti-ManCo’ ManCo – is that the
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.
“They should have a well developed outline of the investment strategy, investment process and the type of portfolio
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.
Provided the manager runs an AIF with less than EUR100 million in AUM, he can avoid licensing and apply for an exemption, although he will be subject to certain registration and reporting obligations. For example, the manager must include a selling restriction in a
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.
From a fund launch perspective, a total of 21 Professional Investment Funds (PIFs) were licensed and three Notified Alternative Investment Funds (NAIFs).
“Overall, for the past 12 months fund formations in Malta have been strong,” says Nicholas Warren, Manager, Corporate Services, Chetcuti Cauchi Advocates. “We’ve seen
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.
As Kavitha Ramachandran (pictured), Senior Manager Business Development & Client Management at Maitland, explains, this was a potential problem where time to market was essential.
“This is what led to the creation of the Reserved Alternative Investment Fund
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…
With the arrival of the Alternative Investment Fund Managers Directive (AIFMD), many were quick to bemoan what they saw as the inevitable loss of their favoured route to market; the use of national private placement regimes in the key European markets to raise capital for a Guernsey fund vehicle. With the passing of a few more years, a Brexit referendum and more than a little regulatory delay, it is becoming increasingly
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.
Europe’s largest onshore funds domicile is Luxembourg, home to approximately 14,400 funds, including sub-funds, representing just short of EUR4 trillion in AUM,
Online alternative investment platform Crowdmatrix is now providing investors with access to high growth private technology companies through the Plaza Ventures Fund IV venture capital fund.
Traditionally, becoming an investor in a venture capital fund requires a six-figure minimum buy in; however, Crowdmatrix’s platform enables accredited investors to invest much smaller amounts to diversify their portfolios into private equity.
Plaza Ventures has a disciplined investment system focused on private technology companies requiring growth stage funding. Plaza Ventures was launched in 2009 by Plazacorp, one of Toronto’s largest and most respected condo developers. Plaza Ventures is currently raising its fourth
Sustainability solutions provider South Pole Group has sold its subsidiary Climate Neutral Investments (CNI) to Institutional Shareholder Services Inc (ISS), a provider of end-to-end corporate governance and responsible investment solutions to the financial community.
Back in 2010, South Pole Group was one of the frontrunners in calculating carbon emissions of investment portfolios through its subsidiary CNI. What started as a novelty for the financial industry soon caught the attention of large investors globally: CNI established the world’s largest database of corporate climate change data and pioneered the leading, standardised investment carbon emission screening tools, resulting in the successful screening of
Events
12 November, 2026 – 8:00 am
12 November, 2026 – 5:00 pm
