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Corporate News May 2017

DIFS Receives Super ManCo Authorisation

Davy Investment Fund Services (DIFS) is delighted to announce that it has received its license to act as a Super ManCo to manage Undertakings for Collective Investment in Transferable Securities (UCITS) funds in addition to its existing license as an Alternative Investment Fund Manager (AIFM).

DIFS is the appointed AIFM to funds that invest across a range of asset classes and that have assets under management of €4.1 billion as at 28th February 2017. The Super ManCo is authorised by the Central Bank of Ireland and is compliant with the Central Bank Fund Management Companies – Guidance (CP86) issued in December 2016.

We have extensive experience working with UCITS platforms including managing a hosted third-party investment manager UCITS platform that is compliant with the Central Bank Fund Management Companies – Guidance (CP86).

DIFS has the capability to support Investment Managers and Fund Board of Directors who wish to appoint a management company, either for UCITS or AIFs1, to manage the regulatory compliance requirements for their Funds. In addition, we provide hosted platform solutions both for UCITS and AIFs for Investment Managers who do not wish to establish their own proprietary fund. 

Commenting, Tom Berrigan, Managing Director, Davy Investment Fund Services, said "We are delighted to extend our suite of services to incorporate management company services for UCITS funds. This now positions DIFS to service Investment Manager requirements both for UCITS and AIF proprietary funds and also for hosted platform solutions. We look forward to extending our relationships with Investment Managers as we continue to expand DIFS’ offering”.

DIFS is part of the Davy Group (the “Group”) providing the financial strength and balance sheet to support clients’ long-term growth aspirations. The Group had €170 million in net assets as at December 2016. The Davy Group is a key stakeholder in the Irish market, with close to 700 employees providing depth and strength of expertise.

The Group was established in 1926 and is one of Ireland’s leading providers of asset management, wealth management, capital markets and financial advisory services. The Davy Group manages assets in excess of €14 billion2.

For more information, please contact:


Annette Stack
T: + 353 1 614 8830
E: Annette.Stack@davy.ie

Tom Berrigan
T: + 353 1 614 8783
E: Tom.Berrigan@davy.ie

Michael Humphreys
T: +44 207 448 8887
E: Michael.Humphreys@davy.ie
 
1 AIF – Alternative Investment Fund
2  As at 31st December 2016

Davy Investment Fund Services is regulated by the Central Bank of Ireland.

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