Further to the Company s announcement on 8 March 2021, the Company has with effect from 1 May 2021 appointed Jupiter Unit Trust Managers Limited (the Jupiter AIFM ) as its new alternative investment fund manager, replacing Maitland Institutional Services Limited (the Maitland AIFM ) whose appointment was terminated at the same time. The Jupiter AIFM is a member of the same group as Jupiter Investment Management Limited (the Investment Adviser ) and this change will not impact the provision of services to the Company by the existing management team at the Investment Adviser. Under the new arrangements, the management and performance fees previously payable to the Investment Adviser are now payable to the Jupiter AIFM together with reimbursement of reasonable expenses incurred by it in the performance of its duties. Additionally, the Jupiter AIFM is entitled to an AIFM fee per month equal to 1/12 of the sum of: (i) 0.05 per cent of the Company s net
Talking heads: Ireland seeks premier league membership for private assets
Nicholas Pratt writes, 2021 promises to be a pivotal year.
Entering 2021, Ireland is grasping the national regulator’s recent review of fund management companies operating under the ‘CP86’ regime – that is, guidance introduced in 2016 designed to strengthen fund governance through measures such as board effectiveness, managerial functions and oversight of third-party service providers.
At the EU level, Ireland – along with other fund domiciles – faces a review of alternative investing rules.
But there is also optimism that Ireland will gain from the growth in private-capital investments now that amendments to the Irish Limited Partnership Act have been made.
Capitalised terms used and not otherwise defined in this announcement have the meaning given to them in the Prospectus and/or the Circular. Important Information The person responsible for arranging for the release of this announcement on behalf of Target Healthcare REIT plc is Kenneth MacKenzie, Founder and Chief Executive of Target Fund Managers. The information contained in this announcement is given at the date of its publication (unless otherwise marked) and is subject to updating, revision and amendment from time to time. This announcement which has been prepared by, and is the sole responsibility of, the Directors of the Company, has been approved solely for the purposes of section 21 of the Financial Services and Markets Act 2000, as amended, ( FSMA ) by the Investment Manager, which is authorised and regulated by the Financial Conduct Authority.
I
N THE FINAL weeks before Britain struck its Christmas Eve trade agreement with the European Union, Boris Johnson employed a euphemism for a no-deal outcome: he called it an “Australian-style” relationship. The agreement was sealed, to the relief of Britain’s manufacturing sector, but for financial services the country’s core competence and dominant industry, which makes up 7% of its
GDP the outcome was sub-Australian. The
EU recognises Australian rules as broadly equivalent to its own in 17 different areas, compared with only two for Britain. It is now easier to sell many financial products to clients in the
EU from 10,000 miles away in Sydney than from across the Channel. “You just can’t imagine the Germans throwing the car industry under the bus like that,” laments a British asset manager.