Key Takeaways
- • Maitland has received CSSF approval for an AIFMD-compliant management company, MS Management Services S.A., authorised to act as alternative investment fund manager (AIFM) for third-party alternative investment funds and for its new platform.
- • The new platform, MS SICAV SIF, is a multi-compartment Luxembourg specialised investment fund that lets managers launch their own-branded sub-funds for marketing to professional investors across the EU and beyond.
- • The offering covers authorisation as an AIFM, governance, operational substance, investment management, administration, AIFMD reporting, and oversight of delegated functions.
- • The launch targets managers facing the AIFMD authorisation deadline of 22 July 2014, with Maitland positioning Luxembourg as the premier domicile for alternative funds.
Summary
Maitland has received approval from the Luxembourg regulator, the CSSF, for its Alternative Investment Fund Manager Directive (AIFMD) compliant management company and its specialised investment fund, according to the company's announcement. The arrangement is designed to relieve fund managers of the regulatory and supervisory burden associated with the directive, allowing them to concentrate on core fund management.
MS Management Services S.A., a Luxembourg-based subsidiary of the Maitland group, has been authorised by the CSSF to act as an AIFM for third-party alternative investment funds as well as for the new Maitland AIF platform, MS SICAV SIF. The platform is a multi-compartment specialised investment fund established under Luxembourg law, with regulatory approval, constitutional documents, service providers and legal agreements in place. Alternative fund manager clients can set up their own-branded sub-funds on the platform to market and distribute to professional investors in the European Union and beyond while complying with the AIFMD.
The AIFMD came into force on 22 July 2013 and requires affected fund managers operating within the EU to apply for authorisation as an AIFM by 22 July 2014. MS Management Services S.A. will offer AIFMD management company services covering authorisation, governance, operational substance, investment management, administration, AIFMD reporting, and oversight of all delegated functions.
Kavitha Ramachandran, director of MS Management Services S.A., said the company aims to offer clients a simplified solution that removes the administrative burden, giving fund managers a platform for product construction and innovation in the EU and beyond. Andre le Roux, Maitland's Head of Business Development for Africa, said the development gives South African clients an end-to-end fund services offering in Luxembourg. He noted that Maitland has been in the country since 1976 and described Luxembourg as the premier jurisdiction for domiciling alternative investment funds, citing its demanding requirements for skills, substance and reporting transparency, which he said provide investors with the comfort they seek after the global financial crisis.
MS Management Services S.A., a Luxembourg-based subsidiary of the Maitland group, has been authorised by the CSSF to act as an AIFM for third-party alternative investment funds as well as for the new Maitland AIF platform, MS SICAV SIF. The platform is a multi-compartment specialised investment fund established under Luxembourg law, with regulatory approval, constitutional documents, service providers and legal agreements in place. Alternative fund manager clients can set up their own-branded sub-funds on the platform to market and distribute to professional investors in the European Union and beyond while complying with the AIFMD.
The AIFMD came into force on 22 July 2013 and requires affected fund managers operating within the EU to apply for authorisation as an AIFM by 22 July 2014. MS Management Services S.A. will offer AIFMD management company services covering authorisation, governance, operational substance, investment management, administration, AIFMD reporting, and oversight of all delegated functions.
Kavitha Ramachandran, director of MS Management Services S.A., said the company aims to offer clients a simplified solution that removes the administrative burden, giving fund managers a platform for product construction and innovation in the EU and beyond. Andre le Roux, Maitland's Head of Business Development for Africa, said the development gives South African clients an end-to-end fund services offering in Luxembourg. He noted that Maitland has been in the country since 1976 and described Luxembourg as the premier jurisdiction for domiciling alternative investment funds, citing its demanding requirements for skills, substance and reporting transparency, which he said provide investors with the comfort they seek after the global financial crisis.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.