Fund governance firm DMS Offshore Investment Services’ (DMS) AIF Management Company has been approved by the Central of Bank of Ireland.
This approval paves the way for DMS to offer solutions that provide both European and non-European managers and investors continued access to the alternative investment fund market, in light of the implementation of the Alternative Investment Funds Directive (AIFMD).
The directive, which came into effect in July 2013, has created an alternative regulatory passport for investment managers to access European investors. Recognising that AIFMD presents a significant challenge for fund managers and investors who must comply with a new and extensive set of transparency reporting regulations in a short time frame, DMS developed its AIF Manager solution and proprietary AIF Platform to provide investment managers with solutions for their AIFMD requirements.
From its global base in the Cayman Islands and with offices in London, Ireland and Luxembourg, DMS has an established presence in fund governance in Europe, through which it serves European investors and works with other service providers.
"DMS has led the market in creating both an AIF Management Company and an AIF Platform. Investors, particularly European institutional investors, value the EU AIF structure and its features and this is changing the market dynamic," says DMS director Conor MacGuinness, who is based in the firm's Dublin, Ireland office.
DMS's AIFMD Management Company solution and AIF Platform handle local management and regulatory requirements, thereby allowing managers to focus on their core competencies of trading and marketing. In addition, managers benefit from quicker time to market and lower set up and ongoing costs.
DMS also augments its fund governance services by providing directors and money laundering reporting officers to the platform, as well as risk management services and reporting through DMS Risk Management Systems (DMS RMS).
Central to DMS's AIF Platform is the provision of its EU-wide passport for distribution, which opens up the entire EU market (including Switzerland) to investors.