Waystone appointed as Management Company for first European CLO ETF
- Waystone appointed by Alpha UCITS as Management Company for Fair Oak Capital’s CLO ETF.
- The fund is the first CLO ETF to launch in Europe, with plans to list the ETF on Deutsche Boerse Xetra on 10th September and London Stock Exchange shortly thereafter.
- Follows recent announcement that Waystone was named the fastest growing ManCo in Luxembourg, largest independent ManCo in Ireland, and number one independent ACD in the UK by AUM.
Waystone, a leading provider of specialist services to the global asset management industry, today announced that it has been appointed as the Management Company on the Alpha UCITS Fund Platform for Fair Oak Capital’s collateralised loan obligation (CLO) exchange traded fund (ETF), the first CLO ETF to launch in Europe.
Alpha UCITS Fair Oaks Capital has received approval for the Fair Oaks AAA CLO UCITS ETF (FAAA) from Luxembourg’s regulator Commission de Surveillance du Secteur Financier (CSSF). The ETF shares will be launched from the Alpha UCITS fund platform, with plans to list the ETF on Deutsche Boerse Xetra on 10th September and the London Stock Exchange shortly thereafter.
This appointment reinforces Waystone’s capabilities as a leading Management Company and ETF specialist, partnering with leading financial institutions to build and distribute quality investment products to investors. It also follows a recent announcement where Waystone was named the fastest growing independent Management Company in Luxembourg, the number one Management Company in Ireland, and the number one independent ACD in the UK measured by AUM1.
With the European ETF market presenting substantial growth opportunities, Waystone is uniquely placed to assist active managers with entering the market successfully and understanding the nuances of market segmentation, product differentiation and regulatory compliance. Waystone’s pre-eminent role in the ETF market is further evidenced by its appointment as the Management Company for Europe’s first CLO ETF, as well as the recent announcement2 in July 2024 where Waystone secured the mandate to operate Northern Trust Asset Management’s ETF platform.
Waystone has continued to see strong demand globally from active managers for its expertise and comprehensive solutions, which enables managers to focus on their core priorities – strategy, fundraising and fund performance – while ensuring effective oversight and regulatory compliance. The company’s global footprint spans key financial hubs across Europe, North America, the Middle East and Asia Pacific, providing clients with global capabilities and localised expertise and support.
Denis Harty, Country Head for Continental Europe at Waystone, said: “Waystone is delighted to support our clients with bringing innovative products to Europe, and we could not ask for better partners than Alpha UCITS and Fair Oaks Capital. Acting as the Management Company to Europe’s first CLO ETF requires extensive know-how and skills, and I am so proud of the Waystone team for delivering this market first so flawlessly.”
Stephane Diederich, CEO at Alpha UCITS, also commented: “Everyone at the Alpha UCITS fund platform is extremely proud to launch for Fair Oaks Capital Europe’s first CLO exchange traded fund (ETF). We anticipate significant growth in active ETFs and have Luxembourg’s leading fund platform to support our clients. I must also call out the collaboration between Alpha UCITS, Fair Oaks Capital and Waystone to launch this innovative product – it has been tremendous, a true partnership.”
About Waystone
Waystone is a leading provider of institutional governance, administration, risk and compliance services to the asset management industry. Partnering with institutional investors, investment funds and asset managers, Waystone builds, supports and protects investment structures and strategies worldwide.
With over 20 years’ experience and a comprehensive range of specialist services to its name, Waystone provides its clients with the guidance and tools to allow them to focus on managing their investment goals with confidence.
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[1] Monterey Insight Ireland Fund Report 2023 (aggregating Waystone entities: Waystone Management Company (IE) and completed acquisitions of KBA Consulting Management and Link Fund Manager Solutions (Ireland)), PWC Observatory for Management Companies – 2024 Barometer, and Investment Association data – monthly company rankings
[2] https://www.waystone.com/waystone-etfs-secures-mandate-to-operate-northern-trust-etf-platform/