Access to in-depth specialist knowledge
Fund registration is a complex, time-consuming process with diverging practices and expectations in different jurisdictions. As a result, it is difficult to maintain in-house the depth and breadth of knowledge required for each jurisdiction.
GFR was able to provide the expertise and experience that is so important when having detailed discussions about new funds and vehicles with a regulator in a new market. In Credo’s case, it definitely helped to reassure the regulator as to the type of vehicle they were dealing with.
At one point the regulator had some concerns about the ICAV structure in general and wondered if these types of funds should be reclassified as hedge funds – rather than the safe UCITS funds that they generally are. FE fundinfo was able to clarify this and ‘blazed the trail’ for this kind of structure to be allowed into South Africa.
Significant time-savings for Credo
The GFR team communicated directly with the South African regulator and local manager on Credo’s behalf, which alleviated the burden of this time-consuming work.
Continuous support and speedy response
For GFR clients, there is no cap on the amount of support provided so clients don’t have to worry about additional charges. This is an attractive proposition: “It’s good to know that if things change or if we have questions – then we can contact FE fundinfo and get a rapid response,” says Kathryn.
Credo’s funds have now been registered and approved in South Africa - but the relationship with FE fundinfo does not stop there. It will move into a ‘maintenance’ phase where FE fundinfo performs all the administrative tasks and ongoing maintenance required to ensure the funds remain compliant. It does this currently for the Credo funds in the UK.