North American fund managers are put off by European regulations
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Third party fund management in Europe
Setting up the required governance framework for alternative investment funds (AIFs) under the EU’s Alternative Investment Fund Managers Directive (AIFMD), can be time consuming, human resource intensive and a costly administrative burden.
As an alternative to setting up your own management company, fund initiators can avoid this financial, operational and regulatory burden by utilising Ocorian’s third party alternative investment fund management (AIFM) services.
In doing so, the fund initiator benefits from Ocorian’s existing, fully AIFMD compliant infrastructure, providing a quick, cost effective and compliant way to realise your fund projects, including for cross-border distribution.
Our expertise spans all alternative investment asset classes including private equity, venture capital, infrastructure, real estate and debt.
Our AIFM services can help you
We provide an in-house portfolio management function, with advice from an appointed investment advisor.
The Fund’s governing body appoints Ocorian by means of an AIFM Agreement. Subsequently the Ocorian AIFM will delegate the portfolio management responsibility back to the external investment manager via a portfolio/investment management agreement.
Ocorian will carry out oversight over the investment manager and still retain responsibility for the portfolio management of the fund.
The general risk management duties of the AIFM through a permanent risk function include:
- Establishment of quantitative and qualitative risk limits for the funds, considering the funds’ strategies and assets
- Ensure proper identification of risks associated with each investment position, through regular interaction with the external investment manager
- Ensure that the funds’ risk profiles and size, portfolio structure and strategies/objectives are matching
- Monitor the established risk limits, including liquidity risk, for which regular stress tests need to be performed
- Document the due diligence process in transactions
- Establish quarterly risk reporting for the fund’s board.
We provide independent oversight of the fair valuation of assets process for AIFs under management.
We liaise and co-ordinate with all the AIF’s service providers such as the portfolio manager, administrator, depositary and external auditor to ensure that any issues are taken care of early, avoiding escalation measures.
We establish an operating model for marketing notifications to host regulators; distribute the AIF on a cross-jurisdictional basis; oversee marketing agents; and ensure local marketing roles are adhered to for non-EU jurisdictions.
We provide all necessary AIFM and fund reporting to the CSSF, CBI and ESMA.
Why Ocorian for AIFM services?
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Expertise in AIFMD
Our AIFMs in Luxembourg and Dublin are staffed by specialists in AIFMD, compliance, governance and accounting are experienced in handling the day-to-day operations of an AIF, in compliance with AIFMD and local requirements. We also have sector specialists on the team, for example in the areas of private equity and real estate.
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Tailored services
We work as a seamless extension of your team and tailor our services to your specific needs.
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Custom reporting
Our fund technology provides you with insights through dashboards and fully customised, tailored reporting.
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