Heritage gets FCA approval for depositary services
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Heritage gets FCA approval for depositary services 14 July 2014London Reporter: Catherine Van de Stouwe
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Heritage Depositary Company has been given Financial Conduct Authority (FCA) approval to become a provider of depositary services to Alternative Investment Fund Managers (AIFM).
The approval comes days before the 22 July deadline for compliance with the new Alternative Investment Fund Managers Directive (AIFMD).
As part of the Heritage Group, Heritage Depositary offers services targeted at those operating in private equity, infrastructure and esoteric alternative funds in developed and emerging markets. The services include asset verification, cash monitoring and oversight and compliance to AIFMs.
Mark Huntley, head of Heritage Fund Services, said Heritage has a “strong reputation” for being a leading provider to alternative funds.
He added: “We are able to meet the varying demands of a wide range of investment strategies, structures of varying complexity and business segments. FCA approval of our depositary services is another important step for the business, and will allow us to continue our growth and development strategy across Europe.
“The deadline for AIFMD compliance is 22 July - barely 10 days away. It is important that fund managers address their depositary requirements urgently if they are planning to market their funds that are within the scope of AIFMD. At Heritage, we have been working proactively with clients over the last year to ensure they are ready for the deadline.”
“Confirmation of our FCA authorisation enables us to develop and build new partnerships, grow our existing relationships and assist more businesses going forward as we support investment firms with their AIFMD needs.”
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