The Central Bank of Ireland has authorised Abbey Capital as an Alternative Investment Fund Manager (AIFM) under the Alternative Investment Fund Management Directive (AIFMD).
Alternative Investment Fund Managers Directive (AIFMD), which came into effect in July 2013, is a regulatory framework initiated by the European Commission to supervise AIFMs.
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The license will allow Abbey Capital to regulate investment practices, increase transparency in operations and reporting in order to protect investors, according to Hedge Week.
The AIFM license will terminate Abbey Capital authorization under the Markets in Financial Instruments Directive (MiFID).
Tony Gannon, CEO of Abbey Capital, said: "Abbey Capital is pleased that our consistency of investment approach and risk management has ensured the stringent criteria for authorization set out by the AIFMD were met by Abbey Capital.
"We feel the company’s authorization as an AIFM is confirmation of the high standard of risk management and transparency Abbey Capital has strived to achieve and maintain since 2000," he added.
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