Heritage Group, a fund and insurance administration firm, is entering the expanding market in management company, or ‘ManCo’, services.
The group’s Guernsey-regulated Heritage International Fund Managers (HIFM) is to offer portfolio and risk management services for alternative investment funds that are subject to the Alternative Investment Fund Managers Directive (AIFMD).
ManCos are regulated entities that asset managers in Europe’s cross-border funds market must set up under the AIFMD, but they can also outsource them.
Third-party providers of ManCos have bolstered their businesses in recent months in anticipation of greater demand.
Heritage’s ManCo will provide a range of risk management services including risk reporting to alternative investment fund clients and competent authorities.
Kevin Smith, director at HIFM, said that alternative investment funds and promoters were increasingly keen to outsource their risk management and alternative investment fund requirements as regulations become more complex.
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