NEWS

News (10)

London Actively Managed Property Fund

Tuesday, 01 September 2015 00:00

The NAV has increased again by a very healthy 1.04% this month (GBP Class A) buoyed by a busy month on re-sales of several of the units previously acquired and at excellent uplifted values.

By Jonathan Yarker 26 Mar, 2015 at 00:01

Growing a business is the main aim of many company owners but managing that growth in a controlled way is just as important, if not more so, says Creechurch Capital founding partner and chief executive John Greenwood.

‘We are looking to get overall assets to £1 billion,’ he says.Four years after launch, the firm runs just over £450 million in assets under management (AUM).

‘If you just continue to grow your assets, you lose that tag of being a boutique. A billion pounds is a target and we can be a boutique at that level. We are committed to remaining a boutique and clients like that about us,’ he adds.

Introduction

Let us start by saying that if you are an investor then this legislation is fantastic for you. You now have access to the whole universe of assets classes via highly regulated, best practice transparent structures.

The EU Alternative Investment Fund Management Directive (AIFMD) reclassified the diverse fund world into a mere 2 categories:

1. Undertakings for Collective Investment in Transferable Securities (UCITS)

2. Everything else – now to be termed Alternative Investment Funds (AIFs)

April/May Market Commentary

Tuesday, 08 July 2014 00:00

US and European stock markets were in general flat in April, but the UK FTSE was up 3.1%, while the Japan Toppix Index suffered a 3.4% loss in April and is down 9.9% year to date after an impressive 60% return in 2013. Some weakness in Japan can be attributed to the increase in the sales tax implemented in April as well as slower Asian growth due to a slowdown in China and fewer Chinese imports to support the region. As a proxy for growth in world trade and exports to China the benchmark Baltic Dry Index is down close to 59% in 2014, although still up approximately 10% year on year. Chinese growth slowed slightly to 7.4% per annum as China shifts from less investment to more private consumption to rebalance the economy.

During the transition period between 2013-2015 a non-EU alternative investment fund manager (AIFM) managing an AIF has access to EU for professional investors (under MiFID) subject to domestic private placement rules that vary from country to country with some countries such as Bulgaria, Croatia, Latvia and Malta providing no transition period after July 22, 2014, while countries such as France, Germany and the Netherlands are abolishing or severely restricting private placements of AIFs to investors.

AIFMD Compliance Deadline Looms

Tuesday, 08 July 2014 00:00

The deadline for compliance with the new Alternative Investment Fund Management Directive (AIFMD) that has been transposed into national law is July 22, 2014. That is only a few months away, but already many fund service providers, depositaries and industry insiders are predicting last minute bottlenecks as the implementation deadline approaches. By now, all financial firms in the EU, or marketing in the EU, that manage collective investment schemes should have self-assessed to find out whether they come under the scope of AIFMD and reported this to their home regulator or competent authority in the EU where their funds are marketed.

Alternative Investment Funds (AIF), UCITS, Collective Investment Schemes (CIS), Asset Managers, Registered Investment Advisors, Private Wealth Managers, Investment Firms, Trust Companies and Family Offices all have their own core-competencies centred around their clients and main markets that need to be performed in-house, which are the basis of the firm’s sustainable competitive advantage. However, good strategy is also knowing what not to do.

Risk management, reporting requirements and regulatory compliance are not only becoming more important for licensing and on-going supervision of UCITS/AIF Managers, as well as investment firms covered by MiFID, but also much more costly in terms of time, money, systems and extra personnel.

EU AIFMD and the Cyprus Fund Industry

Tuesday, 08 July 2014 00:00

Q. What is AIFMD and what does it mean for Cypriot firms?

A. The Alternative Investment Fund Management Directive (AIFMD) is the EU Level II Regulation transposed into the AIFM Law that regulates every Cyprus based legal person that manages one or more Alternate Investment Firms (AIF) whether these AIFs are Cyprus, EU or non-EU based. From 2015 on the AIFM Law shall also apply to non-EU AIFMs having designated Cyprus as their Member State of Reference for their management and/or marketing activities in the EU.

The High Costs of AIFMD Compliance

Tuesday, 08 July 2014 00:00

The AIFM Law of 2013 hopes to do for alternative investment funds (AIFs) what the UCITS Law of 2010 achieved for undertakings for collective investments (UCITS), which is namely the creation of a pan-EU, uniform market that is well-regulated, protects investor rights and sets a global best in its class standard for the management and distribution of AIFs. Rather than supervise individual funds the new law seeks to authorise and regulate investment managers (AIFMs) to hold them to a higher standard in terms of transparency, disclosure, good governance, risk management and accountability.

KMG Capital Markets Ltd (“Company”) is authorised and regulated by the Cyprus Securities and Exchange Commission (“CySEC”) with authorisation number AIFM 01/56/2013. The information contained on this website is provided for general information and does not constitute an offering or legal or other professional advice, nor does it constitute any form of personal recommendation. Accordingly, information on this website is merely intended to raise awareness of issues relating to the Company’s business and by accessing this information you shall be deemed to accept and agree to be bound by the terms of this notice. Information contained on this website is subject to change without notice. It is therefore advisable that the user reviews this Disclaimer and any other notices on this website on a regular basis so that the user is aware of any such amendments or modifications. The distribution of information contained within this website may be restricted in certain jurisdictions by law or regulation and, accordingly, parties who access it are required to inform themselves of and comply with any such restrictions that might apply. Parties interested in accepting any service detailed within this website should inform themselves as to (i) the legal and regulatory requirements within their country of nationality, residence or domicile; (ii) the tax consequences which might be relevant to the Company’s fund management services and; (iii) any other requirement or restriction which they may encounter. Therefore, the use of any information or materials on this website is entirely at your own risk, for which we expressly exclude liability to the fullest extent permitted by law. It shall be your own responsibility to ensure that any services or information available through this website meet your specific local requirements and/or restrictions. The entire contents of http://www.kmgcapitalmarkets.com/ are subject to copyright with all rights reserved. You may download or print individual sections of the site for your personal use and information only provided that you retain all copyright and other proprietary notices. You may not reproduce (in whole or in part), transmit (by electronic means or otherwise), modify, link into or use for any public or commercial purpose the site without the prior written permission of the Company. The information contained within this website is of a general nature and further information should be sought by contacting us with your specific requirements.
 
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