AIFMD and UCITS Management Company Solutions - Waystone

      AIFMD and UCITS Management Company Solutions

      Waystone is an operator of funds, not just a service provider.

      We have more than 20 years of experience in managing UCITS and AIFs and we were one of the first AIFMs to launch AIFMD compliant funds.

      AIFMD and UCITS Management Company Solutions - Waystone

      European investment fund management firm

      Our UCITS and AIFMD solutions team has always been at the forefront of European regulatory changes and works to anticipate their implementation, ensuring our funds achieve first mover advantage wherever possible.

      We have a strong relationship with counterparties and alternative investment fund service providers with technological infrastructure that is flexible enough to manage the increasingly complex regulatory requirements of investor reporting.

      Within the AIFM or UCITS ManCo model, we are responsible for key asset management functions while the investment manager is appointed solely for investment management activities, allowing them to focus on their core competency.

      UCITS management company

      We can construct your UCITS fund either as a standalone structure or as a sub-fund on our multi-award winning UCITS platform ICAV. We are an authorised UCITS management company, fully licensed in Ireland and Luxembourg and passported in Malta and France.

      We can advise you on the compatibility of the investment strategy and the setup structure and we can offer you an objective opinion on the current demand for the investment strategy in the market place and how best to target it. Through our Investment Solutions business, we have access to the market knowledge that enables fund managers to enter the European regulated market more effectively. This includes assistance with selecting the right service providers and distribution networks to support your sales strategy.

      Alternative Investment Fund Manager (AIFM)

      Similar to the procedures for UCITS, we can construct your alternative investment fund (AIF) either as a standalone structure or as a sub fund on a platform.

      The Management Company has dedicated teams throughout Europe to manage the economic substance requirements outlined in the AIFMD regulations, including AIFMD-related risk management, AIFMD passporting procedures, and regulatory oversight. This enables investment management and distribution functions to be delegated back to you without restriction.

      Fund platform solutions

      We offer our clients the opportunity to launch a European sub fund on an existing umbrella structure by leveraging off the existing regulatory and operational framework that is already in place.

      The main benefits are set out below:

      • our structure allows each new sub fund manager to retain their own individual branding
      • each sub fund is legally separated and thereby protected from bankruptcy of other sub funds within the platform
      • our platform management fee covers all key service providers and services including AIFM/management company, administrator, depositary (fiduciary oversight), auditor, directors, risk and regulatory reporting, company secretary, KIID/ KID production and hosting and launch coordination
      • we have taken on all of these expenses directly and, as such, can pass on a single line-item cost to sub funds for all of the above – by limiting fees to a maximum, a manager can manage their total expense ratio with confidence.

      The key advantage of a hosted solution is speed to market and access to a robust network of key service providers.

      Client dedicated management company offering

      We partner with investment managers to provide this service as part of an overall structure. It is bespoke for each Fund. We are appointed by the fund as the management company that is responsible for primary management functions, while the investment manager is appointed solely for the investment management activities.

      If you already have your key service providers in place, we can look to provide the regulatory substance in your preferred fund jurisdiction and provide a scalable solution to meet your future needs.

      The investment manager selects the key service providers and board of directors of the fund.

      Waystone has broad and deep connections with the majority of fund administrators and depositaries in Europe and has strong relationships with independent directors, depositary services, and legal advisors who facilitate standalone alternative fund management solutions.

      Fund structuring

      Waystone successfully directs managers to establish alternative investment fund vehicles across multiple jurisdictions, including Ireland, Luxembourg, the Cayman Islands, the US, France, Spain and Malta.

      Service provider selection

      As a result of our extensive fund range and experience working directly with a broad section of the market, we offer independence and an in-depth understanding of service provider capabilities.

      Distribution services

      A distribution-led team, with investor focus in mind. This means we can tailor your product to maximise asset-raising potential and connect you to the market.

      Comprehensive fund structuring knowledge

      All our clients benefit from the team’s extensive fund structuring knowledge, which runs across several fund structures including UCITS, AIFs, offshore hedge funds, fund of funds, private equity funds and real estate funds.

      Technology platforms

      We continuously invest in our technology platforms to deliver efficient, value-for-money and scalable client solutions.

      Future proofing

      We constantly monitor regulatory change and market developments to ensure funds serviced by Waystone continue to stay ahead of requirements.

      Hosted solutions

      We offer our clients the opportunity to launch fund structures by leveraging off key services providers, within an existing regulatory and operational framework that is already predefined.

      The main benefits are as follows:

      • our structure allows each fund structure to retain their own individual branding
      • each fund structure uses pre-selected service providers with agreed legal documents and pricing allowing for efficient setup
      • our platform management fee covers all key service providers and services including AIFM/management company, administrator, depositary (fiduciary oversight), auditor, directors, risk and regulatory reporting, company secretary, MLRO, KIID/ KID production, and hosting and launch coordination
      • we have taken on all of these expenses directly and, as such, can pass on a single line-item cost to sub funds for all of the above – by limiting fees to a maximum, a manager can manage their total expense ratio with confidence.

      The key advantage of a hosted solution is speed to market and access to a robust network of key service providers.

      FAQs

      What are AIFs?Atoms / Icons / plusExpand
      AIFs are Alternative Investment Funds and typically include hedge funds, private equity, private debt, venture capital and real estate funds.

      Ireland is a key domicile for AIFs as well as a service provider base for AIFs domiciled in other countries.

      Read more
      Who uses AIFs and what are they used for?Atoms / Icons / plusExpand
      Investment Managers from around the world (including the US, UK, Switzerland etc.) use Ireland as a domicile and Waystone is a leading provider in establishing AIFs in Ireland and in other European countries.

      They market the fund to asset owners/investors such as Insurance Companies, Pension firms, banks etc.

      They are used to provide funding to the real economy and to give investors the ability to get exposure to investment opportunities and financial markets.

      Retail investors cannot invest in AIFs as they are considered too complex for the direct retail market.

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      What are QAIFs and RAIFs?Atoms / Icons / plusExpand
      QIAIFs are Qualifying AIFs and are the main category for AIFs in Ireland under the Central Bank of Ireland rules. They are for qualifying investors such as institutional investors.

      RAIFs are Retail Investor AIFs under CBI rules and are a hybrid between QIAIFs and UCITS. There are relatively few in the market.

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      What are UCITS?Atoms / Icons / plusExpand
      Undertaking for Collective Investment in Transferable Securities (UCITS) are investment funds that are tightly regulated and can be marketed to all investor types, both retail and institutional in Ireland, across the EU, and globally. They have strict rules and a high level of investor protection in terms of what asset types can be included and on portfolio composition and diversification. They typically allow investors to buy and sell on a daily basis and hold liquid assets such as equities, money market instruments, or fixed income.

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      Who uses UCITS and what are they used for?Atoms / Icons / plusExpand
      Investment Managers from around the world (such as the US, UK, Switzerland etc.) use Ireland as a domicile for UCITS and Waystone is a leading provider in establishing UCITS.

      UCITS are used to provide retail investors with an opportunity to invest and deploy their savings/pensions and generate a return based on financial markets. This can be investors investing directly into the fund or via their advisor, bank, pension plan etc.

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