French asset manager gets AIFMD approval

Euro signSeven Capital Management has received alternative investment fund manager (AIFM) approval by the AIFM Board, one of the first French asset managers to have received such a licence. Along with seven others, it also received the AIFM asset management passport, allowing it to directly manage a Luxembourg alternative investment fund from France. AIFM approval is intended to strengthen monitoring of companies managing alternative investment funds and Seven Capital Management says it will benefit in terms of marketing and management. Through the passport, alternative investment funds (AIFs) can be distributed to retail and professional clients in France and Europe. This French company can also directly manage an international range of investment funds, particularly in Luxembourg, from France without any additional cost or risk for its investors. Funds Europe recently reported that several asset managers in the UK received approval to manage alternative investment funds under the Alternative Investment Fund Managers Directive (AIFMD), which came into force on July 22, from the Financial Conduct Authority. ©2013 funds europe

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