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Maples Group AIFM and UCITS Management Company Services – Update

31 Jul 2019

MPMF Fund Management (Ireland) Limited (“MPMF”), the Maples Group’s Central Bank of Ireland authorised UCITS management company and alternative investment fund manager, has announced a change to its structure. Effective 26 July 2019, MPMF, which was previously a joint venture with Paul Phelan and Philip McEnroe, is wholly owned by the Maples Group, a leading service provider offering clients a comprehensive range of legal services on the laws of the British Virgin Islands, the Cayman Islands, Ireland, Jersey and Luxembourg, and an independent provider of fiduciary, fund, regulatory and compliance, and entity formation and management services.

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. Furthermore, a number of more recent industry developments, including Brexit and the introduction of increased substance requirements, have been major drivers of activity in Europe.

MPMF provides comprehensive solutions for alternative investment and UCITS funds via an experienced team of professionals with extensive experience in risk management, finance, operations, regulatory and compliance matters. Our flexible full-service offering includes two approaches, both of which provide local management and fulfilment of all regulatory requirements, alleviating operational burdens and allowing fund managers to focus on their core competencies:

  • The hosted model, whereby the Maples Group will be appointed as the AIFM and / or UCITS manager; and
  • The delegation model whereby the Maples Group provides designated persons to provide functional support to a client’s own AIFM, UCITS management company, internally managed IAF or self-managed UCITS.

"MPMF has an established legacy of working collaboratively with the Maples Group and this change in its ownership affords us greater strategic and operational oversight to ensure the continued delivery of a service offering of the highest standards," said Scott Somerville, Chief Executive Officer. "We remain confident in our ability to capitalise on opportunities in the market and look forward to further evolving and growing our AIFM and UCITS management company services offering."

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