St. Stephen's Green Fund
St. Stephen's Green Fund (the "Platform") is an Irish Collective Asset Management Vehicle ("ICAV"). The Platform is an umbrella structure offering a solution for clients looking to launch a regulated fund under the AIFMD.
Managed and promoted by MPMF, the Platform is regulated by the Central Bank of Ireland as a Qualifying Investor Alternative Investment Fund ("QIAIF"). MPMF, as the AIFM, can appoint an investment manager selected by the client or alternatively, the Platform can provide an investment manager to execute the fund’s investment strategy.
The Platform offers small to mid-size clients a flexible solution to AIFMD, where the outlay of resources associated with launching and maintaining a fully-fledged standalone QIAIF may not be viable. Clients take advantage of an established fund platform with regulatory approval, experienced service providers and legal agreements already in place.
The Platform's approach to AIFMD has a number of advantages in comparison with establishing a standalone vehicle, including:
- Established compliance and corporate governance structure: the board of the Platform has responsibility for the on-going compliance, regulatory and corporate governance of an AIFMD-compliant fund, including Annex IV reporting, allowing the client to focus on their core competencies.
- Lower establishment costs: the Platform allows certain fixed overheads and costs (such as directors’ fees) to be spread across several funds.
- Improved speed to market: The Platform offers clients a turnkey solution and can establish a new fund in a short timeframe.
- Project management: the Platform offers a dedicated on-boarding team responsible for agreeing operational flows, creating reporting requirements with each service provider for all management functions and establishing lines of communication for escalation procedures.
- Branding: the Platform offers the ability for a client to use their own branding at sub-fund level.
- Integrated risk and regulatory reporting: the Platform can provide risk reporting, including reporting on performance and analytics alongside regulatory reporting such as Annex IV, FATCA/CRS and EMIR.
- Substance: MPMF has established substance by retaining the fund risk management function as required under AIFMD.