Investment Funds Structuring
The following are 2 typical structures for a Professional Investors Fund:
Self Managed PIF
In this case, the Board of Directors will appoint an Investment Committee and the other service providers. The Investment Committee in turn will appoint a Portfolio or Investment Manager for the day-to-day portfolio management.
PIF with Asset Manager
In this case, the Board of Directors will appoint an Asset Manager and the latter will be responsible in appointing the other service providers.
A number of other possible structures are available depending on the type of funds, investors and investments. Funds’ can also be combined with other legal structures, such as when a fund is invested in SPVs or Securitisation vehicles, so as to maximise other potential advantages, including fiscal ones.