Welcome to another edition of Argentarius ETI Management's
electronic newsletter, ETI Observer. We aim to keep our subscribers
up to date with company news and events.
A client reached out to Argentarius with the following issue: He
manages a successful private equity fund with target investments in
India for several years and has European investors. These investors
were investing in the fund since years, so long before the AIFMD -
European Collective Investment Act for Alternative Investment Funds
- came into force. Now he wanted to launch a second fund and at
least reach out to his existing investors to ask them to
participate in the new fund as well.
As he needs to act in the best interests of his investors he has
to set up the fund in a jurisdiction with a favorable double
taxation agreement with India and therefore Mauritius was chosen.
Anyhow, under the AIFMD rules it is not even allowed to market
offshore fund units to investors of the same asset manager in
another fund. So he needed a repackaging solution to attract
Argentarius offered to issue a fund-linked note within a
securitisation transaction under the regulation 24/2009/ECB thus
being out of scope of the AIFMD and economically feeding into his
offshore fund. By listing these fund-linked notes at an exchange
full promotional rights with the EU are granted and the existing
investors get the possibility to invest in the second venture as
well. Moreover, with the Argentarius proposed solution even new
sophisticated investors can become target investors.
Please find below a list of our newest ETIs, issued last
US Equity Long - Short Market Neutral
(Asset Backed) USD ETI
Selected Ventures EUR Asset Backed
New Co-listings on Frankfurt Stock Exchange:
Opus Mixed Use Z1 Asset Backed
Nordic Power ETI
Boardwalk Real Estate ETI
Solid Venture P2P ETI
Winner of our competition at the London
At the 2nd Annual Conference on European Alternative Financing
& Marketplace Lending, on the 19th April in London, Argentarius
offered a complimentary weekend break for two to Malta as part of a
We would like to thank all our visitors for participating in our
game and congratulate the winner for making the closest guess and
wish a pleasant stay in Malta.
Argentarius is pleased to announce that the Competent Authority
of Gibraltar, the Gibraltar Financial Services Commission has
confirmed that on the 27/05/2016 the Base Prospectus in respect of
an Offering Programme of up to 252 billion Euros for the issuance
of (Asset Backed) Exchange Traded Debt by iFinance PCC PLC. and
(Asset Backed) Exchange Traded Instruments by iStructure PCC PLC.
was approved for publication.
Argentarius attended the 9th Edition of the Finance Malta Annual
Conference held at the Hilton Conference Centre on 26 May 2016.
This year the Conference had the theme "Malta's Financial
Service Industry, Sustaining Growth through Innovation" and
proved to be a resounding success with over 350 delegates and
guests attending the event, surpassing last year's figures.
Argentarius was one of the sponsors and chairman Andreas Woelfl
moderated an interesting panel on securitisation in one of the
On April 26 2016, Argentarius was informed that the Registrar of
Companies in Malta received an acknowledgement from BaFin about the
notification to passport the Global Growth ETI via public offering
and on 10 May 2016, the instruments were made available in Germany
to the public.
With effect from 18 April Jersey is introducing a new regime in respect of private funds - simplifying the regulatory regime, and extending the benefits of flexibility and speed across Jersey's private funds space.
After having issued two consultation papers back in December 2014 and April 2016, the European Securities and Markets Authority (ESMA) released its final Opinion on share classes of UCITS on 30 January 2017.
The Cayman Islands Stock Exchange has now published revised Listing Rules, effective April 2017.
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