Carne Group receives authorisation for Channel Islands “manco”

European tagCarne Group has received authorization in the Channel Islands for a management company that complies with the Alternative Investment Fund Managers Directive (AIFMD). Such management companies, known as "mancos", allow asset managers to comply with the AIFMD while maintaining a fund in an offshore, non-European Union jurisdiction. Carne Group says it is suited for alternative investment fund managers who fall within the directive's threshold but do not have an AIFMD licence. Carne says it has over 20 clients making use of its AIFMD manco solutions in Ireland and Luxembourg. "We are seeing a great deal of interest from alternative fund managers in a Channel Islands structure of this nature, which allows them to meet the requirements of the AIFM Directive without the need for an EU fund domicile," says Mark Hodgson, managing director. ©2014 funds europe

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