BNP Paribas Investment Partners (BNPP IP) has been granted authorisation to operate as an AIF Manager under the European Union’s Alternative Investment Fund Managers Directive in France, the Netherlands and Luxembourg. BNPP IP is amongst the first asset managers to be allowed to offer both UCITS as AIFMD investment funds in the three countries, enriching its comprehensive range of funds for all European investors.
BNPP IP is delighted to have been awarded AIF Manager licences in France, the Netherlands and Luxembourg. These licences will allow BNPP IP to offer a wide range of alternative funds to both retail and institutional clients, in addition to the funds that it can offer retail investors under the UCITS framework of EU rules. BNPP IP currently manages about 900 alternative investment funds. With these licences, around 50 funds can be passported for distribution in a wider number of European countries, allowing institutional clients easy access to the products.
Charlotte Dennery, COO of BNP Paribas Investment Partners, said: “We are amongst the first asset managers in Europe to have both UCITS as AIFMD licences in these three countries. This will allow us to offer both local and global solutions to our global client base and make sure that these are fully adapted to the growing requirements of European investors in terms of transparency, security and risk control. Being able to offer UCITS as well as AIF funds to all European investors has been a cornerstone of our international expansion plans”.
Alternative Investment Fund Management Directive (AIFMD) is a European directive which aims at providing a harmonised regulatory and supervisory framework for managers of Alternative Investment Funds (AIFs) within the EU. It sets rules regarding the organisation and conduct of business of the managers, imposes certain new requirements on the AIFs and allows their marketing to professional investors via a passport throughout Europe. (Source: pwc.lu)
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