Abacus Financial Services Limited has been successfully granted a licence to manage the Island’s fourth Regulated Fund “The Structured Product Fund plc”.
The Regulated Fund was specifically created by the Island’s Financial Supervision Commission following increased regulations by the fund industry and its markets. Its development involved significant consultation between the FSC and the Island’s Fund Association, whose members consulted with their international clients to consider the appropriate requirements of a Regulated scheme throughout the global funds industry.
A Regulated Fund effectively provides an investment vehicle that is subject to fiduciary and regulatory oversight through an appropriately regulated Manager and Custodian; which in turn provides a particularly attractive proposition to those markets that require a conservative and risk averse structure for their investment options; for example Life Assurance companies who wish to invest in funds which offer enhanced degree of regulations which aims to provide protection and security to their underlying clients.
Managing Director of Abacus Financial Services Limited, Martin Heaney said: “We are delighted to have been approved as licensed Manager to The Structured Product Fund plc and are looking forward to working with the Fund as it continues to grow its investor base throughout the offshore markets. The launch of this new Regulated Fund also clearly demonstrates the Isle of Man’s position as an innovative key financial centre in the Funds sector.”