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Nicolas Poncelet: “We provide domiciliation services to unregulated funds”
Fidefield is an independent corporate and full-service provider. Managing Partner and Head of Accounting, Nicolas Poncelet, and Yeliz Bozkir, is Head of Legal & Compliance, talk to us about their new service for the investment-fund industry.
Fidefield x Leaders League
Leaders League: Can you briefly describe the core services you provide, and the type of clients you work with at FideField?
Nicolas Poncelet: We take care of the day-to-day administration of investment vehicles from incorporation to liquidation, annual filings to regular board and shareholders meetings, we also provide local and experienced directors to manage companies’ affairs, in line with the objectives of the client.
Our corporate and fund administration services consist of helping with due diligence processes for banks and third parties, applying for business or regulatory licences, ensuring AML/KYC and AIFMD compliance. Our aim is to take care of administrative and fund matters, leaving clients free to focus on their businesses. Fund administration services also include AIFM registration processes as well as MLRO services (implementation of procedures for example), handling funds’ day-to-day activities, undertaking of legal publications, monitoring of the fund’s bank accounts.
Our accounting and tax services can be as simple as annual and interim accounts as well as the preparation of consolidated accounts under Lux GAAP or IFRS standards to corporate and fund structures but also regulatory reporting. We handle tax and VAT registration, as well as compliance. These services also include transaction monitoring, performance calculations, drawdown and distribution management.
Providing business & family advisory, including coordination from reviewing and discussing objectives, to coordinating between advisors and third parties, we look at, and follow up on, all aspects, from a Luxembourg and international perspective.
We adapt our services to our clients’ requirements and are lucky to work with a wide range of clients, such as private equity and real estate investors, multinationals, entrepreneurs and high-net-wealth individuals, family offices, law firms, private banks, and asset and fund managers.
You both arrived at FideField in September, Nicolas Poncelet as managing partner, head of accounting and Yeliz Bozkir as partner, head of legal & compliance: what additional services do you offer clients?
FideField has established a good client base and business model doing regular company work. In addition to the services already provided by FideField, our aim is to increase the services provided to fund managers in respect of funds and regulatory services. As we just obtained the chartered accountant license, we can also provide domiciliation services to corporate entities and unregulated funds. It is also worth noting that, along with our experienced and growing staff, we plan on applying for a licence to provide services to regulated funds.
You usually advise non-regulated alternative investment funds: what types of request do they typically make and what are their needs?
This can be summarized as helping promoters and assets managers to implement structures. An example is the Luxembourg partnerships, with the asset managers acting as general partners and the investors as the limited partners. We coordinate the advice but most importantly the drafting of the limited partnership agreement, the capital calls and help them with the AIFMD registration. We also provide a wide range of services linked to AML/CFT/compliance obligations.
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