The Tracker will be monitoring the impact of AIFMD on the fund domiciles, both offshore and in the EU. In particular it will focus on any possible changes in alternative fund domiciliation patterns caused by the Directive.
EU
Ireland, Luxembourg and the UK have dominated alternative fund domiciliation in the EU to date. (For AIFs registered in these jurisdictions please go to the AIF Launch section.) Malta, the EU’s third international fund domicile, has also been chosen by a number of managers for their regulated AIFs.
Offshore
Although outside the EU, offshore jurisdictions like Guernsey and Jersey now have dual regulatory regimes in order to cater for managers wishing to comply with the Directive. One of their regimes is therefore for funds wishing to be AIFMD compliant (and the other for their traditional offshore funds).
Jersey
Jersey reported a surge in applications in the lead up to the end of the AIFMD transitional period. The number of funds notifying the Jersey Financial Services Commission (JFSC) of their intention to privately place into Europe under AIFMD rules broke through the 150 mark, say Jersey Finance.
Figures collated by the JFSC show that, as at 22 July, a total of 164 funds had opted to make use of Jersey’s private placement route into Europe. In addition, 57 alternative investment fund managers have confirmed their authorisation under Jersey’s AIFMD private placement regime, and there are three depositaries in Jersey offering AIF Depositary services as well as others in the pipeline.
Guernsey
At the end of July the Guernsey Financial Services Commission (GFSC) report that 34 Guernsey Alternative Investment Fund Managers (AIFMs) have taken advantage of Guernsey’s National Private Placement (NPP) regime to market Alternative Investment Funds (AIFs) into Europe.
Cayman
Cayman fund registrations, from European based managers, have not been affected by AIFMD, to date. Registrations in Cayman during the AIFMD transitional period, from July 2013 to July 2014, ran at a similar rate to the 12 month period from mid 2012 to mid 2013.
Harmonic Fund Services
Jason Bechard – Senior Fund Accountant
T: +353 1 440 7362
jason.bechard@harmonic.ky
www.harmonicfundservices.com
IQ-EQ
Know how Know you
Sherizia Razzaque, Group Marketing Lead, Segments,
T: +230 213 8917
Sherizia.Razzaque@iqeq.com
Justin Partington, Group Head of Funds,
T: +352 466111 3852
justin.partington@iqeq.com
https://iqeq.com
JTC Fund Services
Kobus Cronje, Managing Director – Guernsey
T: +44 1481 704 745
Kobus.Cronje@jtcgroup.com
www.jtcgroup.com
Prescient Fund Services
Irish regulated, independent Fund Administration
Hayden Reinders, Head of Business Development and Client Management
T: +27 21 700 5363
hayden.reinders@prescient.co.za
www.prescient.co.za
C3 Post Trade Limited
Your Single Window to Operational Efficiency
Luke Spencer-Wilson, Head of Relationship Management
T: 07887 647769
lsw@c3posttrade.com
www.c3posttrade.com
FM Consult
Fleming McGillivray & Co. Compliance Solutions
Dallas J. McGillivray, Managing Director
T: +44 (0)20 7220 9073
dmgillivray@fmconsult.co.uk
www.fmconsult.co.uk
Fuchs Asset Management
Timothe Fuchs, CEO
T: +352 26 26 49 39
timothe.fuchs@fuchsgroup.com
www.fuchsgroup.com
IQ-EQ
Know how Know you
Sherizia Razzaque, Group Marketing Lead, Segments,
T: +230 213 8917
Sherizia.Razzaque@iqeq.com
Justin Partington, Group Head of Funds,
T: +352 466111 3852
justin.partington@iqeq.com
https://iqeq.com
JTC Global AIFM Solutions S.A
Louis Lamotte, Managing Director, JTC Global AIFM Solutions S.A
T: +352 27 17 28 43
Louis.Lamotte@jtcgroup.com
www.jtcgroup.com
ONE
Steve Bernat, Founding Partner
T: +352 661 787 803
steve.bernat@one-gs.com
www.one-gs.com/
Prescient Fund Services
UCITS and AIFMD ManCo and Platform Services
Hayden Reinders, Head of Business Development and Client Management
T: +27 21 700 5363
hayden.reinders@prescient.co.za
www.prescient.co.za
MJ Hudson Quantitative Solutions
Risk reporting
Max Hilton, Managing Director
T: +44 (0)1481 231815
info@clarusrisk.com
www.clarusrisk.com
RiskSystem
Risk Management Solutions
Simon O'Sullivan,
T: +353 1 551 4471
simon.osullivan@risksystem.com
www.risksystem.com