Below is a list of some of the types of structures which KMG Capital Markets can create and/or act as the appointed external Alternative Investment Fund Manager.

An Alternative Investment Fund ‘AIF’ holds investments in asset classes such as real estate, precious metals, art, wine, antiques, coins, or stamps and some financial assets such as commodities, private equity, distressed securities, hedge funds, managed futures, derivatives contracts, carbon credits, venture capital, film production, forestry and financial derivatives. 

Most alternative investment assets are held by institutional investors or accredited high-net-worth individuals because of their complex nature, narrow regulations and relative lack of liquidity. 

In European terms any structure that is not a UCITS is by default an Alternative Investment Fund.

  • SIF
    A SIF ‘Specialized Investment Fund’ is a type of investment fund governed by the Luxembourgish law of the 13th February 2007, replacing the law of 1991 defining the legal framework for institutional funds and enlarging the distribution scope to ‘informed investors’. The SIF law significantly simplified the rules for setting up investment fund structures, ranging from simple investment strategies investing in listed securities to complex hedge funds, real estate and private equity funds and apply risk diversification.

    The SIF is only available to well informed investors defined by the law as institutional investors; professional investors, investors investing a minimum of EUR 125.000, or any other investors for which a credit institution or other professional of the financial sector has certified that they are aware of the risk they have undertaken.

    A SICAR is an investment vehicle which is defined by its objects. The status of a SICAR is more flexible than under the ordinary law governing commercial companies.

    As an Investment Company in Risk Capital, it is a lightly regulated, flexible and tax efficient vehicle specifically tailored for private equity and venture capital investments.

    Due to the high risk associated with the investments made by a SICAR, it is only available to well informed investors defined by the law as institutional investors; professional investors, investors investing a minimum of EUR 125.000, or any other investors for which a credit institution or other professionals of the financial sector has certified that they are aware of the risk they have undertaken.

    SICARs are subject to less stringent investment restrictions and limitations.

  • QIF
    Irish Qualifying Investor Scheme ‘QIF’ is a regulated, specialist investment fund targeted at sophisticated and institutional investors, who must meet minimum subscription and financial resource requirements. To qualify as a QIF, a fund must have a minimum initial subscription requirement of €100,000 per investor, or equivalent in other currencies.

    The main advantage of the QIF is the removal of the Financial Regulator’s general conditions relating to investment policies and borrowing, thereby enabling sophisticated investors to use this structure for a wide range of investment purposes. Some of the many different types of funds that can be structured as a QIF include: alternative investment funds, including hedge funds, sovereign wealth funds and property/real estate funds. 

  • PIF
    Professional Investor Funds ‘PIFs’ are Malta’s primary investment fund vehicle catering for all types of ‘alternative investment fund’ (AIF) products which include hedge funds, real estate funds, private equity and other alternative funds, as well as traditional funds and are subject to minimal regulation compared to retail investment schemes.

    The PIF structure aims to provide a regulatory framework which is both robust and simultaneously adaptable to allow managers and promoters to innovate and develop new products to meet the changing needs of the market.
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 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.
This website uses cookies. If you continue without changing your settings, we will assume that you are happy to receive all cookies on this website