As part of its strategy to further extend its international presence, Alceda has applied for Alternative Investment Fund Manager (AIFM) licence Germany and Luxembourg.
The application comes following the implementation of the AIFMD on 22 July 2013, which establishes common rules for funds not encompassed by the Ucits Directive.
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The intention behind the directive is to create harmonised rules for management and marketing of AIFs in Europe and enhanced transparency for investors as well as more stringent operational rules.
Following AIFM authorisation in Germany and Luxembourg, Alceda will be able to provide services such as portfolio and risk management, administration and marketing.
The new licensing will enable Alceda to offer its services for alternative investment strategies, including new fund concepts, fund launches, fund migrations and restructuring as well as the re-domiciliation of hedge funds, private equity and offshore funds and specialised institutional solutions.
Michael Sanders, chairman of the board at Alceda Fund Management S.A. said: "After years of stalled growth the global asset management industry has returned to a growth path. But the wide variation in performance amongst managers, products and regions is challenging investors. Big regulatory changes are sweeping the financial industry which has led to an increasing demand for individual structuring solutions.
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By GlobalData"We are confident that funds under the AIFMD will have the same ‘gold standard’ as the UCITS brand and believe that Luxembourg will continue to be the worldwide leader in cross-border fund distribution.
"The AIFMD is accelerating the change from offshore to onshore as managers today often run both onshore and offshore vehicles to attract investors from different jurisdictions. Our application to become AIFM registered in Germany and Luxembourg is a logical next step in our continued development and growth and in meeting the increasingly complex needs of investors," Sanders added.
Michaela von Grafenstein has been appointed managing director at Alceda in Germany and Luxembourg being responsible for risk management.
Michaela Maria Eder von Grafenstein, CRO of the Aquila Group, said: "We believe the trend for real assets will increase in future. Currently, the identification of attractive projects, ambiguous regulatory requirements as well as political and economic changes is challenging investors. A comprehensive valuation of the investment, it’s earning potential and risk profiles and a precise analysis of the target regions are of major importance when investing in real assets."
Michael Sanders, said: "Investors in the US and Europe continue to look East and West and demand greater exposure to managers that are sufficiently savvy, creative and disciplined to deliver compelling products and performance.
"Investments have to fulfil the three R’s of return, risk management and regulation. We know the requirements from fund initiators as well as the needs of the investors," he added.
