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Ireland has become an international financial services hub with 1000 fund managers from over 50 countries holding assets that are administered in Ireland.
Ireland offers managers access to the EU-wide marketing passport for UCITS and AIFs. Ireland is a committed member of the European Union and will remain so, providing full market access to the EU. As an English-speaking member of the EU and Eurozone, Ireland is well-known for its clear and practical regulatory framework and support for the funds industry.
In 2008, Waystone successfully launched its Dublin operation, with an initial aim to provide governance services to fund managers.
In 2012, after four years of steady growth, Waystone became an authorized Alternative Investment Fund Manager (AIFM) and UCITS management company, approved by the Central Bank of Ireland and the CSSF in Luxembourg. Waystone Europe is headquartered in Ireland, with additional operations in London and Luxembourg to support its clients for European regulated products.
Each European domiciled fund requires an authorized AIFM or UCITS Management Company. Waystone can partner with investment managers to provide this service as part of an overall structure selected and customized for each fund. Waystone is appointed by the Fund as the AIFM or UCITS Management Company with the required regulatory responsibilities while the Investment Managers are appointed solely for investment management activities, allowing them to focus on their core competency.
We have strengthened our team in Dublin to include additional compliance experts and risk management professionals, who independently analyze each AIF’s risk analytics and provide customized reports, through Waystone Risk Management Solutions.
The Cayman Islands are recognised as a major international financial centre and are home to approximately 11,000 regulated funds, with 12,000 private funds registered during 2020.
The Cayman Islands are considered the fifth largest financial centre in the world, with an increasing number of offshore funds incorporations being developed annually.
Almost 80% of offshore hedge funds are regulated by the Cayman Islands Monetary Authority (CIMA). This can be accredited to the Cayman Islands’ safe and flexible business environment for investors and a legal and financial framework that promotes growth for offshore funds. Waystone’s headquarters are located in the Cayman Islands, making it the ideal choice for organizations seeking informed governance solutions and guidance in successfully launching a Cayman Fund.
Waystone leads the way in specialist services for the asset management industry.
Partnering institutional investors, investment funds and asset managers Waystone builds, supports and protects investment structures and strategies worldwide. With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone is now serving assets under management in excess of $350Bn.
Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.
Luxembourg is firmly established as a key financial centre and fund domicile with Luxembourg funds now holding over €4.2Bn of assets under management.
Luxembourg benefits from a strong and stable economy and provides clear advantages for managers looking to establish funds in the jurisdiction. Waystone, with its significant experience in servicing private equity, real estate and debt funds, is well positioned to take advantage of this growth. Waystone is also experiencing an increased demand from UK managers looking to Luxembourg as a base from which to continue to market their funds into Europe.
Our Luxembourg team works closely with the Dublin and London operations, assisting clients with dedicated AIFMD and UCITS Management Company solutions to Luxembourg domiciled UCITS, SIFs and RAIFs. In addition, Waystone provides solutions to assist managers requiring Company Secretary, Risk Management, Portfolio Management, Compliance and Distribution Services across Europe, Asia and North America. Waystone continues to build a strong team in Luxembourg to match the demand for its services, having recently secured additional mandates from key institutional managers.
Waystone is the independent Third-Party Management Company of choice for leading institutional Investment Managers in Europe and the fund governance name that institutional investment managers know and trust when establishing their European product.
The United Kingdom is one of the world’s leading financial centres. Waystone’s London operation was launched in 2013.
Despite the turbulence from Brexit, London continues to be a business destination of choice for the asset management industry. The use of the English language, English law and London’s corporate ecology are obvious benefits. In addition, a relatively proactive regulatory mindset, a deep talent pool and lower trading costs continue to make London a destination of choice for asset managers to conduct their business.
Waystone’s London operation brings global fund governance and allied services to the UK market, including FATCA, AIFMD, UCITS, corporate and outsourcing solutions. In 2019, following the acquisition of Host Capital Ltd, WAYSTONE expanded its European products and bespoke solutions with the addition of Authorised Corporate Director (ACD) services to assist asset managers operating UK regulated investment funds, providing them with tailored solutions to assist with any Brexit concerns.
The London operation is headed by Andrew Berry who has extensive experience in financial product development, operations and particularly ACD services. In addition, the London operation advises on funding and distribution of European products through its distribution services team. Waystone’s strong relationships with fund managers and its deep understanding of their strategies and advanced AI technology, means that it can reliably identify managers in the strategy, asset class, sector, geographic and performance categories that private fund investors are seeking.
Our seamless blend of systems, processes, people and expertise in all areas of client service differentiate us from our competitors. With expertise in the equities, investments trading and hedge fund markets in Europe and the Middle East, Waystone London continues to expand its presence and its service offerings in this leading financial services centre.
A leading financial market, Hong Kong is the preferred choice for asset managers in the Greater China Region offering a favourable low-tax environment for hedge funds and their managers.
Our highly-skilled and experienced team of hedge fund, private equity and venture capital specialists support our Asia-based funds and their managers.
The Waystone Hong Kong operation strengthens our ability to service not only hedge fund clients but also those involved in private equity and venture capital. Our clients include some of the largest asset managers in the Asia-Pacific region as well as start-up and emerging funds.
We are able to provide service offerings including AIFMD/UCITS and International Tax Compliance (FATCA/CRS) services which have seen continued growth in the Asia-Pacific region. We continue to see an increased demand for our professional directorship services along with our other services in the region and our recently expanded team is well placed to provide a full-service governance offering to its clients.
Singapore is a well-established international asset management and fund centre and over the last five years, the industry’s AUM has expanded at a 14% compound annual growth rate.
The value of the Waystone offering in Asia was strengthened by the opening of the Singapore operation in 2018, supporting Asia-based funds and their managers.
We offer professional, independent directors in the Asia time zone (SGT) and with fluency in Mandarin and Cantonese language skills that are key to the region. Waystone Singapore has further strengthened our ability to service not only hedge fund clients but also those involved in private equity and venture capital. Our clients include some of the largest asset managers in the Asia-Pacific region as well as start-up and emerging funds. UCITS are a familiar and well accepted product from both an investor and regulatory perspective in Singapore and we are able to provide service offerings including AIFMD/UCITS and International Tax Compliance (FATCA/CRS) which have seen continued growth in the Asia-Pacific region.
The opening of Waystone’s Singapore operation was another exciting milestone, demonstrating our commitment to the asset-management industry in Asia. We continue to see an increased demand for our professional directorship services along with our other services in the region.
New York City is rated as the world’s leading financial centre and the number one destination for companies working in the traditional industries of technology, banking, and finance.
Waystone’s New York operation is home to a growing team that is well placed to strengthen its existing relationships with US stakeholders.
The location facilitates our ongoing face-to-face interactions, making our governance work more accessible and transparent to the funds we serve and their investors. The continued expansion of the New York office demonstrates our commitment to, and success within, the North American market. Our experienced team ensures that Waystone continues to expand its already substantial worldwide presence.
Waystone serves a wide variety of clients from hedge funds to those involved in private equity and venture capital. Our expertise and service offering enhances our ability to serve clients in other areas such as AIFMD/UCITS, International Tax Compliance (FATCA/CRS).
A politically stable and neutral country, Switzerland is the world leader in off-shore private banking.
With over 60% of Swiss adults holding assets in excess of USD 100,000, 11% of the Swiss are USD millionaires. Approximately 2,650 are ultra-high-net-worth individuals (UHNWI) with over USD 50 million and 980 have a net worth in excess of USD 100 million. Switzerland also holds substantial seed capital from insurance companies, banks and foundations.
The Swiss fund market is the fourth largest in Europe, with a total volume of CHF 1,240 Bn (as of December 2019), and the fifth largest market in terms of institutions that use ETFs and ETPs. This makes it particularly attractive for the sale of foreign investment funds. The number of funds approved by FINMA for public offering has grown constantly, with most following the UCITS directive. There are also a significant number of Alternative Investment Funds (AIFs). Foreign funds outnumber Swiss funds by five to one, with Luxembourg and Ireland the most prevalent domiciles for foreign funds, having over 7,700 funds in total, followed by France, Germany and the UK. In 2018 alone, almost 800 new foreign funds were registered in Switzerland, a number that is second only to the UK. This represents a 10% growth for the year.