Novation of AIFM to Fundrock's UK subsiduary
European Opportunities Trust plc (the 'Company')
Legal Entity Identifier: 549300XN7RXQWHN18849
Appointment of Fundrock's UK regulated subsidiary as AIFM
FundRock Management Company SA ('FundRock Luxembourg'), has acted as the Alternative Investment Manager ('AIFM') to the Company since 15 November 2019 with special responsibility for risk oversight in accordance with the requirements of European law. To date Fundrock Luxembourg has provided these services to the Company on an EU cross border basis from Luxembourg pursuant to its regulation by the local regulator, the CSSF.
In order to position the Company for any change in the regulatory environment in the United Kingdom post Brexit, the Board has today appointed Fundrock's wholly owned and UK regulated entity, Fundrock Partners Limited ('Fundrock UK') to act as its AIFM in place of FundRock Luxembourg. There has been no change to the terms of engagement or fees payable to the AIFM nor any cost of transition for the Company. Fundrock UK is authorised and regulated by the FCA and its scope of permitted business includes the management of an unauthorised alternative investment fund (being the Company's regulatory format under EU law).
FundRock UK is a leading independent third party UCITS Management Company, Authorised Corporate Director (ACD) and AIFM, providing management, risk and distribution solutions to French, Irish, Luxembourg, Swedish and UK based funds. From their offices across 5 locations, the FundRock group oversees more than $100bn of third-party assets for more than 90 established blue-chip companies and asset owners. FundRock UK currently manages £13.75bn in funds encompassing investment strategies covering the majority of standard and alternative asset classes.
In October 2020, Apex Group Ltd., a global financial services provider, announced the planned acquisition of FundRock which, subject to customary closing conditions (including regulatory approval), is expected to complete in Q1 2021. The transaction is expected to provide FundRock clients with greater access to Apex Group's international network and a density of product and innovative solutions.
For further information, please contact:
Devon Equity Management Limited
Company Secretaries to European Opportunities Trust PLC
Richard Pavry
enquiries@devonem.com
020 3985 0445
16 November 2020
www.europeanopportunitiestrust.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
Latest directors dealings
- 1 day ago Savannah Energy
- 1 day ago Buccaneer Energy PLC
- 1 day ago Savannah Energy
- 1 day ago Carclo
- 1 day ago Schroder Japan Growth Fund