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18 IFAs seeking white- label deal for Sicav Sifs

KMG Sicav Sif says it is holding discussions with 18 IFA firms and five accountancy firms about setting up their own white-labelled funds.

In July, the firm launched an off-the-shelf open-architecture platform in Luxemburg to allow intermediaries and asset managers to create their own Sicav Sif funds.

The firm says it is currently in discussions with 18 UK and international advisers and five accountancy firms and funds could be ready by September.

It says it has also had interest from fund managers who currently hold vehicles in Dublin or Guernsey and are looking to redomicile quickly into Luxemburg.

Director Kevin Mudd says the IFA industry has yet to fully embrace the investment structures on offer in other European jurisdictions.

He says: “It is a matter of showing people that there is a market beyond the UK fund. Networks and bigger nationals are starting to make inroads into European markets but are still not really selling in them and are not exposed to the 12,000 international funds they could buy.”

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