Since coming into full effect, the Alternative Investment Fund Managers Directive (AIFMD) and the Undertakings for the Collective Investment of Transferable Securities (UCITS) framework have posed significant challenges to fund managers and investors, requiring EU-based funds to comply with new and extensive authorisation, ongoing operation and transparency requirements.
The Maples Group’s Central Bank of Ireland authorised UCITS management company and alternative investment fund manager, MPMF Fund Management (Ireland) Limited (MPMF) provides services to alternative investment funds (AIFs) and UCITS funds that help meet their ongoing obligations under these regulations.
Our flexible full-service offering includes two approaches:
- The hosted model, whereby MPMF will be appointed as the AIFM and / or UCITS manager; and
- The delegation model whereby MPMF provides designated persons to provide functional support to a client’s own AIFM, UCITS management company, internally managed IAF or self-managed UCITS.
Both models provide local management and fulfilment of all regulatory requirements, alleviating operational burdens and allowing fund managers to focus on their core competencies.
MPMF’s solutions are delivered by an experienced team of investment and risk management professionals and designated individuals with in-depth knowledge of finance and operations, regulatory and compliance matters. At the core of our expertise is a seamless integration of cutting edge technology and deep industry knowledge that enable us to deliver optimal solutions to clients.
In addition, we are supported by the Maples Group’s comprehensive legal, fiduciary, fund, entity formation and management, and regulatory and compliance offering which provides clients with complementary services including, regulatory reporting, anti-money laundering compliance, global registration services, company secretarial and board support, and entity formation.
St Stephens Green Fund
St. Stephen's Green Fund (the Platform) is an Irish Collective Asset Management Vehicle (ICAV). The Platform is an umbrella structure offering a solution for clients looking to launch a regulated fund under the AIFMD.
Managed and promoted by MPMF, the Platform is regulated by the Central Bank of Ireland as a Qualifying Investor Alternative Investment Fund (QIAIF). MPMF, as the AIFM, can appoint an investment manager selected by the client or alternatively, the Platform can provide an investment manager to execute the fund’s investment strategy.
The Platform offers small to mid-size clients a flexible solution to AIFMD, where the outlay of resources associated with launching and maintaining a fully-fledged standalone QIAIF may not be viable. Clients take advantage of an established fund platform with regulatory approval, experienced service providers and legal agreements already in place.
The Platform's approach to AIFMD has a number of advantages in comparison with establishing a standalone vehicle, including:
- Established compliance and corporate governance structure: the board of the Platform has responsibility for the on-going compliance, regulatory and corporate governance of an AIFMD-compliant fund, including Annex IV reporting, allowing the client to focus on their core competencies.
- Lower establishment costs: the Platform allows certain fixed overheads and costs (such as directors’ fees) to be spread across several funds.
- Improved speed to market: the Platform offers clients a turnkey solution and can establish a new fund in a short timeframe.
- Project management: the Platform offers a dedicated on-boarding team responsible for agreeing operational flows, creating reporting requirements with each service provider for all management functions and establishing lines of communication for escalation procedures.
- Branding: the Platform offers the ability for a client to use their own branding at sub-fund level.
- Integrated risk and regulatory reporting: the Platform can provide risk reporting, including reporting on performance and analytics alongside regulatory reporting such as Annex IV, FATCA/CRS and EMIR.
- Substance: MPMF has established substance by retaining the fund risk management function as required under AIFMD.
Ceres Fund Management Cayman Limited
Following the MPMF model of a Central Bank of Ireland authorised Irish-based AIFM, Ceres Fund Management (Cayman) Limited (Ceres) offers AIFM solutions for non-EU (e.g. Cayman Islands) AIFs that meet the ongoing obligations under the AIFMD.
Ceres provides flexible solutions to its clients through an experienced team including investment and risk management professionals, designated individuals with in-depth knowledge of regulations and compliance matters and in-house designed information technology for risk reporting.
Either as an appointed AIFM or on a delegated basis from a client's internally managed AIF or AIFM, Ceres will:
- Maintain executive oversight of each of the AIFs under management and retain full responsibility for AIF governance and compliance.
- Retain or delegate certain aspects of the day-to-day management functions (e.g. risk and portfolio management) in accordance with the optimum business solution for each client.
- Establish substance by retaining the risk management function.
- Provide designated individuals, including a compliance officer and money laundering reporting officer.
LocationsCayman Islands | Dublin | Montreal
Thank you!We have recieved your details.
Maples and Calder (Ireland) LLP, the Maples Group's law firm in Ireland, is pleased to announce the addition of Lorna Smith who joins the firm as a Partner in its Financial Services Regulatory practice.
13 Jan 2021Read more
The Maples Group is pleased to support the Leon Levy Foundation, a private philanthropic foundation with US$450 million in assets. The Group's consolidated operational and technology platform for data aggregation, portfolio accounting and portfolio reporting and customized support has allowed the Leon Levy Foundation to meaningfully analyze its investments in a timely manner while better understanding the strategies to which it has allocated capital.
12 Jan 2021Read more
Maples and Calder, the Maples Group's law firm, is pleased to announce that its Asia practice has been recognised for its role in advising on seven of the transactions listed as Deals of the Year 2020 by China Business Law Journal ("CBLJ"). Additionally, Anthony Webster, Partner and head of the Funds & Investment Management team in Hong Kong and Matt Roberts, Partner and head of the Corporate practice in Asia were recognised on CBLJ's A-List.
12 Jan 2021Read more
24 Dec 2020Read more
The Maples Group was pleased to act as Cayman Islands counsel to Xiaomi Corporation in relation to its combined issue of US$855million zero coupon guaranteed convertible bonds, due 2027 and convertible into class B ordinary shares of Xiaomi Corporation under general mandate and approximately US$3.1billion subscription of placing of existing shares and top-up subscription of shares under general mandate.
18 Dec 2020Read more
The Maples Group's Dublin and London Offices are proud to announce that together they have selected Barnardo's UK and Barnardos Ireland for a special Christmas donation.
17 Dec 2020Read more