Europe

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EFAMA and AMIC publish joint report on leverage

EFAMA and AMIC publish joint report on leverage

The European Fund and Asset Management Association (EFAMA) and the International Capital Market Association’s (ICMA) Asset Management and Investors Council (AMIC) have published a joint paper analysing how and why leverage is used in investment funds in Europe, how firms address in practice related risks and the technical tools used to measure leverage and improve the efficient management of their portfolio.

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Luxembourg has the tools to support global distribution ambitions

Luxembourg has the tools to support global distribution ambitions

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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Standing out from the crowd: The Netherlands

Standing out from the crowd: The Netherlands

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. 

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Malta: Europe’s sunshine jurisdiction

Malta: Europe’s sunshine jurisdiction

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. 

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There’s a place for both RAIFs and SIFs

There’s a place for both RAIFs and SIFs

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.