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Alternative Market Briefing

Swiss family office’s asset management arm puts money on UCITS

Friday, February 08, 2013

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Alessandro Mauceri
Benedicte Gravrand, Opalesque Geneva:

The executives of Palaedino Asset Management, a firm that is part of the Palaedino multi-family office Group, are strong advocates of the UCITS structure. If a strategy can be managed onshore and within that structure, then it should be done so. Whatever cannot be managed within that structure will be in offshore funds and will complement UCITS investments.

"Our families are fully transparent fiscally. As such, the UCITS structure brings a lot of tax advantages in comparison with offshore investments in certain countries in Europe," Alessandro Mauceri, CEO of Palaedino A.M. tells Opalesque. "Unfortunately, Europe is not organized in terms of taxation... But usually, when you invest in UCITS in Europe, as long as you stay invested, you do not pay tax on your investments."

UCITS (Undertakings For The Collective Investment Of Transferable Securities) funds can be marketed within all countries that are a part of the European Union, provided that the fund and fund managers are registered within the domestic country, and indeed, each country within the EU may differ on their specific disclosure requirements.

The UCITS framework presents many advantages, Mauceri explains. One is that funds that are sold in Europe should be supervised by a recognised authority.

"The AIFMD demands that the management company......................

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