Unigestion has received AIFM authorisation from the French Financial Markets Authority for its asset management company in France.
The AIFM authorisation will allow Unigestion to offer institutional investors access to alternative funds within a harmonised European regulatory framework.
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Additionally, the license will also expand the firm’s presence further across the other member states of the European Union.
The AIFM Directive, incorporated by the EU member states on 22 July 2013, improves transparency amongst alternative fund managers and regulates the main sources of risk associated with alternative fund management, according to Investment Europe.
Gérard Pfauwadel, chairman, Unigestion Asset Management (France) SA, said: "This Directive represents a major step forward for the asset management industry. It creates a label that reconciles the recognition of our convictions with a reassuring regulatory framework by offering even more security to investors who are currently looking for non-Ucits funds."
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