Fund regulated governing body
A Fund, organized as an investment company, is a legal entity. It must have a regulated governing body. Any regulated fund other than self-managed furthermore requires a regulated management company or AIFM (Man.Co) to manage it.
PCM as a “Third Party Management Company”
Whether you are considering setting-up for the short-term while you evaluate your options, or you are strategically investing in Europe for the long-term, our Management Company (PCM) can assist you.
Our independent PCM Management Company is an operationally ready and economically viable solution to host the launch and on-going management of your fund, as well as provide support to in-house management companies that require additional assistance, governance and substance.
The Fund Management Company
- Must execute by itself the three mandatory primary substance building blocks that are: Supervision of delegated functions, Risk management and Investment Management oversight,
- Must delegate certain mandatory external functions (Custodian bank, Auditors, Paying Agent),
- May delegate certain of its collective management functions (e.g. Fund administration, Transfer Agent, Distribution Network, Investment Management, …) and may appoint an external Investment Advisor,
- Must monitor the activities of its delegated functions, and is responsible for the appointment and oversight of the service providers.
Delegation of activities and limitations
A Management Company/AIFM may delegate some functions, to achieve a more efficient conduct of its business.
|Type||Activities that may be delegated||Activities that cannot be delegated|
|UCITS Management Company||
|AIFM||Similar to above (UCITS) provided that Limitations are respected.||Limitations: Delegation not permitted to the extent that the management body no longer: