We manage and provide assistance in the take-on process, ensuring that the launch of new funds is quick and easy. Our extensive experience of fund launches and complex transactions (such as re-domiciliation and cross-border mergers of UCITS) simplifies the daunting task of adapting existing strategies to the UCITS framework;
Fund costs are tightly controlled, to ensure the Total Expense Ratio (“TER”) of a fund with assets of €15m is below the crucial level of 1% ex-management fees. The Platform makes no claim on management, performance or distribution fees, so managers keep the revenue they earn;
Investment managers have control over branding, distribution and management of their own funds*. The underlying administrative and legal structure is designed to be invisible so each fund on the Platform is effectively fully independent and appears to investors as a stand-alone product;
Funds on the Platform benefit from world class service providers, including Citi which acts as the custodian and fund administrator. The principals at Andbank were pioneers in the creation of platform structures in Luxembourg in the late 1990s;
The Platform is also independent of distributors, marketing firms, large asset management companies and investment banks. Therefore, managers can choose who will distribute their funds and which counterparties will execute their trades. Platform-level arrangements have been established for execution, derivative transactions and, critically, distribution. There is no need for managers to spend valuable time “reinventing the wheel”;
Independent UCITS has quickly become a leading provider of platform services in Luxembourg since it was established in September 2012. The Platform has achieved a critical mass of five funds and assets over US$120m. A further five new funds will be launched in 1H 2014 and there is a pipeline of new funds to be launched later in the year.
The Independent UCITS Platform is a Luxembourg domiciled UCITS IV SICAV (Société d’Investissement à Capital Variable) regulated by the CSSF (the financial regulator in Luxembourg);
Key service providers are Citi, Luxembourg, acting as administrator and custodian/depository; Andbank Asset Management, Luxembourg which acts as the Management Company; and Mazars acting as auditor;
The Platform has taken advantage of its scale to set up arrangements with a number of distributors and proven marketing agents, who facilitate the distribution of funds across Europe;
Agreements with a variety of brokers, investment banks and derivatives/options specialists allow portfolio managers to execute trades from day one through the counterparties which are most suitable for the trades;
The principals behind the Platform provide intensive support during the process of creating new funds, from the adaptation of their strategies to UCITS, through the regulatory approval process to the final launch of the fund;
Managers have freedom to brand each fund and class of shares independently of the Platform*.