Portcullis Asset Management, licensed by the Malta Financial Services Authority (MFSA), says it is launching as a Malta-based Alternative Investment Fund Manager (AIFM) to assist alternative investment funds to comply with the Alternative Investment Fund Managemers Directive (AIFMD).
Portcullis has also named David Barry as its new CEO. He joins from TMF Custom House Group where he was head of sales and business development and part of the executive committee; he has over 15 years of experience across the EU and US funds industry.
As a regulated AIFM, Portcullis will assume responsibility for all AIFMD management functions on behalf of its clients. Funds managed through Portcullis’s AIFM services will benefit from its AIFMD marketing passport to market shares to professional investors.
In addition, Portcullis says it has collaborated with a UK regulatory hosting platform for portfolio managers who do not have access to a regulated entity from which to provide investment advisory or portfolio management. This FCA regulated, hosted platform will assume responsibility for those portfolio managers accepted onto the platform whilst also allowing them to save the time and cost associated with obtaining their own FCA authorisation.
Portcullis is in the process of establishing an EU regulated umbrella fund which will allow the establishment of dedicated sub-funds under the umbrella that can be either managed by a sub-manager or advised by a dedicated investment adviser.