Altarius Asset Management Limited, the Malta-based asset management branch of Altarius Group, today announced the launch of its Fund Platform, PARAGON S.I.C.A.V. plc (PARAGON) which is one of Malta’s first independent fund platforms exclusively open and dedicated to third party managers and Family Offices.
Registered as a PIF. (Professional Investment Fund), PARAGON is highly flexible with regard to investment strategy, liquidity, reporting and leverage. One of PARAGON’s key benefits is that it does not attract income or capital gains tax.
Amongst its many strengths PARAGON has an open-architecture which allows clients the opportunity to nominate their own service provider. In addition as a collective investment scheme it is extremely cost-effective as the set-up and running costs are shared amongst all of the platform sub-funds. Furthermore PARAGON does not require any minimum AUM or lock up period.
Commenting on the launch, Pierre Maliczak, President of Altarius Group, says: “There is a very strong demand for small to medium size sub-funds, that are quick and easy to set up, cost efficient and flexible as far as assets, leverage and diversification are concerned. Through PARAGON we are now able to offer clients an all-in ready to go solution where we coordinate all aspects related to the fund, including distribution. This allows fund managers to focus on what they do best – managing assets.
Heinz Daxl, Managing Director of Altarius GmbH, Germany adds: "Typically we expect clients to be new or non-European Fund Managers looking to have their own European regulated fund ready in less than 4 weeks, enabling them to raise assets in Europe and in the rest of the world.
“However, we have also seen a growing demand amongst Family Offices and high net worth individuals for their own dedicated, European regulated fund. As this platform is a genuinely open architecture, clients can nominate the service provider they want. The Maltese regulation allows service providers to be based anywhere in the world as long as it is in a jurisdiction recognized by the Maltese financial authorities."