Tuesday 15th July 2014
Frostrow Capital approved as AIFM
Frostrow Capital, the independent investment trust group, has been approved as an Alternative Investment Fund Manager (‘AIFM’). Compliance with the Alternative Investment Fund Managers Directive, needs to have been achieved by all investment trusts by 22 July 2014. With this in mind Frostrow applied to the FCA to extend its regulatory status in order to be able to act as AIFM for several of its clients. Frostrow’s appointment as an AIFM will involve delegating the day-to-day portfolio management to the existing investment manager.
Alastair Smith, Managing Partner, Frostrow Capital said:
“We are delighted that the process to become an AIFM has concluded and that we have been approved by the FCA. We can now be appointed as the AIFM for our clients and for other investment trusts that may require it. Some investment trusts will act as their own AIFMs but a large number will inevitably appoint their existing investment managers to this role. We provide an alternative to these arrangements: Frostrow is an FCA approved firm who has the required expertise and yet is independent of the investment manager. We believe this structure removes any concerns about potential conflicts of interest.”
For further information please contact:
Alastair Smith, Managing Partner
020 3008 4911
020 7726 6111
Frostrow Capital is an award-winning independent investment trust group and AIFM. Frostrow specialises in providing services to a growing number of leading, London Stock Exchange-listed investment trusts, whose assets under management are approximately £4.5bn.
Founded in 2007, the firm is majority owned by the executive team who have over 110 years of specialist experience and operate independently of any financial institution or investment management group. Frostrow believe their innovative management model enables investment companies to operate more effectively because portfolio management is kept separate from the other operational functions.