TMF Custom House Fund Services, a leading provider of financial services to the alternative investment sector, has announced that it is now offering clients a depositary lite, or ‘Depo Lite,’ platform to support alternative investment managers marketing their funds in Europe to fulfill their AIFMD requirements. This Depo Lite service will conduct cash-flow monitoring and general oversight requirements to a manager and all relevant funds.
The new offering is an extension of TMF Custom House’s existing regulation and compliance offerings. Depo Lite is applicable to managers in two scenarios
- When they are domiciled in an EEA country, do not require full authorization but market fund shares or units in any EEA country, or
- When they are domiciled outside the EEA but market fund shares or units into specified EEA countries that have included a Depo Lite requirement in revised private placement regimes. To date four countries have done this, includingGermany and France, and others are likely to follow suit over time.
“We offer a comprehensive range of Depo Lite services to meet clients’ requirements,” said Mark Hedderman, CEO, TMF Custom House, “and our team is committed to making delivery of the Depo Lite solution as seamless as possible."
“TMF Custom House has always been focused on investors and the investor experience on behalf of fund managers, said Dermot Mockler, Group Head of Regulatory Affairs, Compliance & Anti Money Laundering. “This offering will allow our client managers to concentrate on their core investment activities, while ensuring that they are fully compliant with the AIFMD regulations.”
TMF Custom House is also preparing to launch another service related to the AIFMD Directive, where it will assist client managers with extensive reporting obligations, known as Annex IV Reporting. The company is engaging with service providers with a view to rolling out a substantive solution in the 4th quarter 2014.