Opalesque Industry Update - SEB Enskilda today announced the launch of SEB Prime Solutions, a one stop shop offering for alternative investment manager's UCITS funds (Undertakings for Collective Investment in Transferable Securities). Part of SEB's award winning Prime Brokerage concept, SEB Prime Solutions presents an integrated and holistic service facilitating the launch and marketing of these funds.|
SEB Prime Solutions is an umbrella SICAV (Société d'investissement à capital variable) and Newcits platform, offering the necessary legal structure, risk management and administration services for a UCITS fund. In combination with SEB's Prime Brokerage solution and custody this offers investment manager a more efficient way to manage funds.
Two funds will be launched via SEB Prime Solutions and a further five are expected to be added by the end of 2010 with an anticipated size in excess of 100 million EUR.
"We have seen increased demand from our existing and new clients to launch UCITS funds over the last 18 months. This is driven both by investors' demand as well as the anticipated regulatory changes", said Atilla Olesen, head of Prime Brokerage Sales for SEB Enskilda in London.
Magnus Ward, head of Prime Brokerage in London, added that "SEB Enskilda is in a unique position since it can pull together all the necessary components to launch and run a UCITS fund. This enables an investment manager to focus on the most important thing – to create returns for the investors."
"In order to gain a competitive edge in a growing market, fund managers are looking for an innovative way to launch their funds. As the services offered are still largely fragmented, the ability to offer a range of services through one operator presents a business model which fully meets the requirements of managers", says Marilyn Ramplin, Founder of UCITS for Hedge Funds and CEO at Ramplin Capital, an adviser on risk, derivatives, safety of assets and Newcits structuring and distribution.
SEB Enskilda is a leading European Prime Broker with over 30 years of hedge fund experience. SEB's Luxembourg-based Fund Services division is the global distributor for SEB Prime Solutions and acts as a promoter to the fund. Its comprehensive distribution facilities enable fund managers to shorten the time to market, reduce costs as well as the complexity of the regulatory process and eliminate the need for minimum capital requirements. SEB’s Fund Services division was established in 2004 and has provided more than 50 live funds with UCITS services. Corporate website: http://www.sebgroup.com/