The Bright Alternative
Aztec Sweden

News - 02 June 2014

Aztec Sweden

On 28 February 2014 Aztec Sweden received permission from the Finansinspektionen to provide depositary services to closed ended fund structures in Sweden. The permission cements the Aztec Group's commitment to the Swedish market and has allowed the new Stockholm office to take on two Swedish depositary mandates.

In response to the adoption of the Alternative Investment Fund Managers Directive in July 2013 (as enacted in Sweden through the Swedish Alternative Investment Fund Managers Act (SFS 2013:561) (Sw. lagen (2013:561) om förvaltare av alternativa investeringsfonder)), the Aztec Group has rolled out its tried and tested triple award winning administration service model into the depositary space. Building on its extensive experience of meeting materially equivalent depositary obligations in other Group operating jurisdictions, the Aztec Group has developed two ISAE 3402 accredited service models for delivering depositary services, covering relationships where administration is outsourced and those where it is not.

Aztec Group has tracked the development and implementation of the Directive closely over the last three years. Members of the Aztec Group’s in-house legal team have written extensively on the subject and have liaised with and lobbied regulators (including the FCA) and industry bodies (such as the EVCA) during the transposition process with the aim of ensuring a sensible application for industry.

Aztec Group’s in-depth knowledge of the Directive has allowed it to develop its own depositary procedures in-house (which have subsequently been approved by a top international law firm). When coupled with a wider understanding of the legislative environment, this ensures that when acting as a depositary, the Aztec Group is able to offer a flexible, pragmatic and low impact approach, molding its procedures to fit those of the manager.

Aztec Group has always recognised that one size definitely does not fit all, and as a result has been providing relationship driven, tailored solutions to managers for many years. Aztec has extended this approach into its depositary service offering and is now providing joined up depositary and administration services to Swedish managers from its fully operational office in Stockholm.

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If you would like to discuss outsourcing to the Aztec Group or are considering migrating a fund or SPV, please contact James Duffield, our Head of Business Development on +44 20 3818 0250.

Aztec Group Guernsey

Aztec Financial Services (Guernsey) Limited
PO Box 656, East Wing, Trafalgar Court
Les Banques, St Peter Port, Guernsey, GY1 3PP

Telephone: +44 1481 749700
Facsimile: +44 1481 749749
Video Conference: +44 1481 725947
Email: enquiries@aztecgroup.co.uk

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Aztec Group Jersey

Aztec Financial Services (Jersey) Limited
Aztec Group House, PO Box 730
11-15 Seaton Place, St Helier, Jersey, JE4 0QH

Telephone: +44 1534 833000
Facsimile: +44 1534 833033
Video Conference: +44 1534 832002
Email: enquiries@aztecgroup.co.uk

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Aztec Group UK - London

Aztec Financial Services (UK) Limited
2 Throgmorton Avenue
London
EC2N 2DG

Telephone: +44 20 3818 0250
Email: enquiries@aztecgroup.co.uk

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Aztec Group Luxembourg

Aztec Financial Services (Luxembourg) S.A.
7, Rue Lou Hemmer, L-1748, Luxembourg – Findel
Grand-Duché de Luxembourg

Telephone: +(352) 24 616 000
Facsimile: +(352) 24 616 016
Email: enquiries@aztecgroup.eu

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Aztec Group The Netherlands

Aztec Financial Services (Netherlands) BV
Spaces Zuidas, Barbara Strozzilaan 201
1083 HN Amsterdam, The Netherlands

Telephone: +31 20 794 4820
Facsimile: +31 20 794 4821
Email: enquiries@aztecgroup.eu

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Aztec Group UK - Southampton

Aztec Financial Services (UK) Limited
Forum 3, Solent Business Park
Parkway South, Whiteley, Fareham, PO15 7FH

Telephone: +44 238 202 2300
Facsimile: +44 238 202 2309
Email: enquiries@aztecgroup.co.uk

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Aztec Group Sweden

Cetza Financial Services (Sweden) AB
Strandvägen 7a, 114 56, Stockholm, Sweden

Telephone: +46 8 124 488 88
Facsimile: +46 8 124 488 99
Email: enquiries@aztecgroup.se

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