!css

Passport ready?

“Under the new regime, asset managers will no longer need to have a physical presence in the countries in which they are creating their funds.”

 

The full introduction of the AIFMD could change the face of marketing of Alternative Investment Funds (AIF) in Europe. It will do this by increasing choice and security for investors while opening up new opportunities for asset managers.

One of the main objectives behind the directive is to simplify the marketing of AIFs. This will see the introduction of a range of passports. At one end of the mini-spectrum sits the AIF passport to market AIFs domiciled in one country to various EU Member States. At the other are those for the AIFMs (Alternative Investment Fund Managers), enabling asset managers to manage, from one country, EU AIFs in various Member States, either directly or through a branch. Fuller details can be found in the SGSS White Paper on AIFMD which readers will find is referred to several times throughout this issue of Momentum.

Another main advantage of the directive is that it will establish clear, standardised procedures with reduced time scales to obtain those passports or more globally. They will also give investors greater transparency and security, as the passport that will be granted only to asset managers complying with the directive and therefore informs the clients that the asset manager has to meet minimum standards set out within a regulatory framework.

“Under the new regime, asset managers will no longer need to have a physical presence in the countries in which they are creating their funds,” notes Etienne Deniau, Global Head of Business Development, Asset Managers and Owners at SGSS.

They will be able to launch a fund in one country and manage it remotely, only dealing with the Competent Authorities where they have registered their office. This will enable them to simplify or rationalise their product range, using a qualified depository and a good regulatory information service in that country. Such a set up will put smaller asset managers almost on a par with the largest ones.

In brief, both AIF and AIFM passports created by the AIFM Directive represent an excellent opportunity for Asset Managers to simplify their set-up and ensure greater efficiency.

etienne.deniau@sgss.socgen.com

Key Facts

  • AIFMD likely change AIF marketing landscape
  • Passport creation to simplify marketing
  • Physical presence not necessary to launch fund
déc.
2016
Altana Wealth Limited retient SGSS en Irlande pour son fonds UCITS à compartiments multiples
Altana Wealth Limited au Royaume-Uni a retenu Société Générale Securities Services (SGSS) pour fournir des services...
nov.
2016
Vatel Capital retient SGSS pour des services de conservation, dépositaire et valorisation
Introduit par la Loi de Finances pour 2007, le « FIP Corse » est un Fonds d’Investissement de Proximité investi à...
SGSS
Introduit par la Loi de Finances pour 2007, le « FIP Corse » est un Fonds d’Investissement de Proximité investi à hauteur de 70% au moins de son actif dans des petites et moyennes entreprises situées en Corse. Le FIP Kallisté Capital n°9 a vocation à investir dans des PME corses exerçant principalement leur activité dans le tourisme, les énergies...
fr/presse-agenda/news/communiques-presse/news/vatel-capital-retient-sgss-pour-fournir-des-services-conservation-banque-depositaire-valorisation/
nov.
2016
SFIL retient SGSS pour des services de conservation globale
SFIL, le premier financeur des collectivités locales françaises, et Caisse Française de Financement Local (CAFFIL), sa...
SGSS
SFIL, le premier financeur des collectivités locales françaises, et Caisse Française de Financement Local (CAFFIL), sa société de crédit foncier, ont mandaté Société Générale Securities Services (SGSS) pour fournir des services de conservation pour leurs actifs en Europe. Ce mandat vient en complément des services de valorisation déjà fourni à SFIL en France...
fr/presse-agenda/news/communiques-presse/news/sfil-appoints-sgss-for-global-custody-services/
nov.
2016
Eurotunnel retient SGSS pour ses prestations aux émetteurs
Eurotunnel a retenu Société Générale Securities Services (SGSS) pour fournir des prestations aux émetteurs comprenant la...
SGSS
Eurotunnel a retenu Société Générale Securities Services (SGSS) pour fournir des prestations aux émetteurs comprenant la gestion du registre nominatif, la centralisation des services financiers et des services d’organisation des assemblées générales auprès de ses 27.000 actionnaires au nominatif en France et au Royaume-Uni.
fr/presse-agenda/news/communiques-presse/news/eurotunnel-retient-sgss-pour-ses-prestations-aux-emetteurs/
nov.
2016
Information Financière Trimestrielle
T3-16 : Des performances commerciales et financières solides
oct.
2016
Société Générale Securities Services renforce ses équipes en Inde et en Pologne
SGSS annonce les nominations suivantes:
sept.
2016
SGSS nomme un nouveau Responsable du réseau de sous-conservateur
SGSS a nommé Massimiliano Notarianni en tant que Responsable de l’équipe réseau de sous-conservateurs.
sept.
2016
SGSS mandaté par KELER, le dépositaire central de titres hongrois
SGSS a été mandaté par KELER, le dépositaire central de titres hongrois, pour faciliter sa connection à Target-2...
sept.
2016
Societe Generale present at Sibos 2016
Societe Generale is exhibiting at SIBOS 2016 in Geneva this year, from 26 to 29 September, to showcase its broad range...