26th September 2013
Centaur establishes independent business to provide oversight and cash flow monitoring services for AIFMD. Centaur Financial Limited (“CFL”) has been launched to provide independent depositary lite services for managers of non-EU domiciled alternative investment funds.
CFL is an independent company, established in Ireland, to help fund managers deal with the complex provisions of AIFMD. By appointing CFL to provide depositary lite services, managers will be able to market their non – EU funds to investors throughout Europe via national private placement regimes.
CFL will independently carry out cash flow monitoring under Article 21.7 of AIFMD and oversight services under Article 21.9. CFL is offering its depositary lite services on a standalone basis to any AIFMs, irrespective of whether their funds use other Centaur group companies to provide fund administration services.
Louise Boyle, Monitoring and Oversight Officer, comments: “We felt it was important to come to market early with a clear depositary lite service which offers a cost effective and simple solution to fund managers. Our services will help managers to comply with AIFMD and – importantly – enable them to market their non - EU funds throughout Europe. We have already seen tremendous interest in our offering and have signed up several fund managers, some of which use Centaur Fund Services as their administrator and some of which use third party administrators.”