UCITS IV Fund Consolidation & Outsourcing

A first mover consolidation of all UCITS IV fund structures across Europe, complemented with the outsourcing of back and middle office activities.

Client Challenges

The client was launching a complex program to consolidate the structures of their funds across-borders within Europe, under UCITS IV. No other asset manager in France had yet conducted this exercise.

Simultaneously they were outsourcing their custody, transfer agency and fund accounting to a third party administrator based in France and Luxembourg, plus a major reduction in staff numbers was also planned to drive further efficiencies.

Alpha Approach

  • Alpha mobilised a cross-border team based in 2 locations to support the program
  • We undertook rigorous planning, with timelines for regulatory approval of cross-border mergers under UCITS IV
  • Joint teams were mobilised with the third party administrator to ensure the success of the outsourcing work stream
  • We tracked the benefits delivered by the business case, and staff reductions, on a monthly basis

Client Benefits

The first cross border mergers in France under UCITS IV were successful executed, and the benefits predicted by the business case were fully realised.

Outsourcing of operational functions, including staff lift out, was fully executed on time, and the whole program was executed in line with the pre-agreed budget.

Related case studies include:

September 20, 2016

Aiding a Global Asset Manager to review their best execution operating model to identify ‘gaps’ to current regulations, forthcoming MiFID II requirements, and industry best practice


September 20, 2016

Assisting a Global Asset Manager to overcome a complex legacy Salesforce platform and develop a target operating model

Client Types

  • Global asset manager

Sponsor

  • Head of Investment Management

Functions

  • Product management
  • European operations

Geographic Scope

  • UK
  • France
  • Spain
  • Portugal
  • Luxembourg

Fund Types

  • €10bn under management