Quay Financials (Gibraltar), a brokerage and investment management firm created last month through a buyout from its Euronext Amsterdam-listed parent, is planning to develop its range of a
Quay Financials (Gibraltar), a brokerage and investment management firm created last month through a buyout from its Euronext Amsterdam-listed parent, is planning to develop its range of alternative funds established through an Experienced Investor Fund umbrella structure.
Quay Financials was formerly Van der Moolen (Gibraltar), part of the Van der Moolen Group whose ultimate parent company is Van der Moolen Holdings. The Gibraltar subsidiary was the subject of a management buyout in June following a consolidation of the Van der Moolen Group’s European businesses at the end of last year.
Quay Financials is now wholly owned by a Gibraltar holding company, Quay Investments (Gibraltar), which in turn, is owned by the company’s management and staff. The firm is regulated by the Gibraltar Financial Services Commission and is licensed to conduct brokerage and investment management services.
The broking division currently has clients ranging from high net worth individuals to institutional funds, and includes an execution team that carries out transactions on the global derivative markets.
The investment management division provides services to the Quay Umbrella Fund PCC, an Experienced Investor Fund created in a protected cell company structure. This enables additional funds to be created within the structure rapidly and cost-efficiently.
The first tranche of four single-manager funds launched by Quay Financials Investment Management within the structure are the Global Special Situations Fund (merger arbitrage), Global Strategy Fund (multistrategy), Conag Managed Fund (managed futures) and Systematic Global Futures Fund (systematic trending).
The alternative funds within the Quay Umbrella Fund mostly carry an annual management fee of 2 per cent and a performance fee of 20 per cent, apart from the managed futures fund, which has a performance fee of 25 per cent.
The Quay Umbrella Fund also acts as a fund of funds, offering diversification across the range of single-manager vehicles without the additional layer of fees usually charged by a traditional fund of hedge funds.
The administrator of the fund is Grant Thornton (Gibraltar), the custodian is ABN Amro Bank, the prime broker is ADM Investor Services International and the auditor is Deloitte & Touche (Gibraltar).
