SGSS launches European UCITS management company solution for asset managers
Societe Generale Securities Services (SGSS) has launched ManCo by SGSS, a management company solution to assist asset managers seeking access to the European market to set up and market UCITS.
In July 2011 the UCITS IV Directive established a single harmonised regulatory regime for open-ended investment funds.
The Directive provides the framework for launching funds within the European Economic Area (EEA) by offering asset managers the opportunity to distribute UCITS funds throughout the area via a compliant management company (ManCo) registered in the EEA.
SGSS’ own in-house ManCo is extending its licence to accompany asset managers in their growth strategy within the EEA.
By using ManCo by SGSS, asset managers will be able to set up funds remotely, without bearing the associated infrastructure costs or managing the registration process, and outsource to SGSS the entire administrative process required to become UCITS compliant.
ManCo by SGSS is responsible for setting-up and structuring the UCITS, covering all administrative, legal and regulatory requirements, for launch within the EEA region; all regulatory requirements, such as risk management and reporting; all necessary post-trade and fund services; and distribution support through SGSS’ network of local European paying and facilities agency services.
All the services are supported by SGSS’ range of post-trade services.
“European investors tend to invest in locally registered funds for asset and investment protection. However, they are willing to explore new investment options to benefit from the advantages provided by a diversified range of funds, as long as they are secure,” says Etienne Deniau, global head of business development, asset managers & owners at SGSS. “The regulated UCITS framework is a guarantee of security, both for European and worldwide investors. By enabling asset managers to launch UCITS to investors, ManCo by SGSS will create broader investment and business opportunities for investors and asset managers.”
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