Listed Funds are publicly traded funds on exchanges which offer real-time prices to investors to buy/sell holdings in such funds. Like Exchange Traded Funds (ETFs), as the funds are listed, they are generally liquid and open ended, offering investors flexibility to sell, with no lock periods compared to traditional unlisted funds.
Listed Funds carry a high level of regulatory requirements, both at listing stage and ongoing AIFM requirements for the fund. It is often cost effective to outsource the AIFM requirement to XCAP, where we can utilise our technical knowledge to efficient and effectively offer regulatory coverage to the fund.
Listed Funds have been broadly designed to offer retail investors the ability to invest in such funds and market towards institutional investors who may invest a large percentage of their funds under management in listed securities as part of their investment mandate.
Listed Funds can be listed on EU regulated exchanges, such as;
London Stock Exchange / AIM Market
- Nasdaq Nordic
- Luxembourg Stock Exchange
- Berliner Borse
- Hamburg Stock Exchange
- Borse Munchen
- Borse Stuttgart
- NGM Nordic SME
- NGM Main
- SIX Swiss Exchange
- BX Swiss
Listed Fund Launch - Why XCAP?
Unlike other regulatory hosting platforms and European AIFM platforms, we are specialist in Listed Fund launches and EU AIFM hosting, thus we specialise in what we know. Rather than be a generalist regulatory hosting platform, we offer bespoke services to listed funds, complete with integrated solutions such as custodians, offering memorandum, fund administrators and legal support where required, offering a true ‘plug and play’ solution.
Being a true specialist allows us to add genuine value to our clients, from a corporate finance advisory and capital raising point of view, to offering assistance in managing risk and compliance.
Listed Funds - How can XCAP help?
Whether you are a seasoned professional in listed funds, or looking to launch your first fund – we offer a complete platform for Listed Funds that will allow you to ‘plug and play’ your fund, from structuring, legal documentation, launching, regulatory cover, fund listing and capital raising.
Our service include, but not limited to;
- Fund Structuring & Set Up
- Fund Listing in the EU
- Fund Offering Memorandums
- Legal Counsel/Support on Taxation, Investment Management Agreements and corporate structures for the General Partner (GP).
- Integrated Fund Administration & Auditing
- Prime Brokers/Custodians
- FCA Regulatory Hosting (FCA Appointed Representative)
- European AIFM/ManCo Hosting for the Fund
- European Passporting to all 29 EEA States
- Corporate Finance & Capital Raising
- Risk Management / External Risk Committee
Listed Fund Launch
We have helped launch listed funds ranging from 15 million GBP, to over 50+ million GBP for clients ranging from family offices, HNWs and institutional platforms. As a rule of thumb, we recommend 10 million GBP/EUR/USD to be a minimum when launching a Listed Fund, in order to cover the operating costs of the fund and general partner.
Some funds launch with less, however this does skew the Total Expense Ratio (TER) of the fund, which is not ideal.
If you are interested in launching your Listed Fund or operate within Corporate Finance Advisory and want a quote – please visit our bespoke ‘Xchanging’ platform by clicking here.
Regulated services are provided by Vantage Point Capital Limited or its regulated investment partners who are authorised and regulated by the Financial Conduct Authority of the United Kingdom. XCAP Global is a trading style of XGC Limited, which is a compliance and consulting firm (non-regulated activities).
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