FundRock appointed by Carmignac as Authorised Corporate Director for its newly launched UK OEIC
FundRock Partners Limited, the UK Authorised Corporate Director (ACD) business of FundRock Group, has been selected by Carmignac, to act as the ACD for its six new UK domiciled sub-funds structured under the “FP Carmignac ICVC” OEIC umbrella. In this capacity, FundRock will provide the legal and regulatory framework for the OEIC and undertake the regulatory oversight of the funds. Carmignac Gestion Luxembourg S.A will act as the investment manager, sponsor and distributor of the OEIC.
Carmignac, Europe’s leading independent asset manager, is widening the availability of its strategies to UK investors with the launch of six locally domiciled sub-funds. The launch of these UK sub-funds, in partnership with FundRock Partners Limited as ACD, underlines Carmignac’s commitment to the UK as a strategic investment market. Carmignac’s London office, headed by Managing Director Maxime Carmignac, now has over 40 staff members, including senior fund managers and analysts.
Maxime Carmignac, Managing Director of Carmignac UK Branch, said: “FundRock is a recognised player in the UK and across Europe. This partnership marks a significant step in Carmignac’s European growth strategy and underlines our commitment to the UK by making our funds more accessible to domestic investors.”
Xavier Parain, CEO of FundRock added: “We are delighted to be the partner of choice for Carmignac, supporting them in their initiative to better serve the needs of the UK market. We look forward to providing our resources and strong expertise in order to enable the firm to focus undistracted on its core business activity.”