Waystone becomes first independent ACD to have LTAF approved
- Waystone has partnered with Fulcrum Asset Management (Fulcrum) on the planned launch of the WS Fulcrum LTAF
- The LTAF will invest in a blend of private market asset classes
- Positive step toward unlocking substantial capital held within pension funds following the Chancellor’s Mansion House reforms
The FCA approves the WS Fulcrum Diversified Private Markets (H) LTAF
London, UK – Waystone, a leading provider of specialist services to the global asset management industry, has today announced the FCA’s approval of the WS Fulcrum Diversified Private Markets (H) Long Term Asset Fund (LTAF), a sub-fund of the WS Fulcrum LTAF, making Waystone the first independent ACD to have an LTAF approved by the FCA. Northern Trust will provide depositary and fund administration services to the LTAF.
The LTAF will invest in a blend of private market asset classes, such as private equity, private credit, infrastructure, and real estate, for a single Defined Contribution (DC) pension scheme. The aim is to access a broad range of sophisticated investment opportunities to improve risk-adjusted returns and diversification.
Rachel Wheeler, Global Product Head for Regulated Fund Solutions at Waystone, said “After months of hard work from all parties, it’s great to receive the approval from the FCA. The additional layer of scrutiny that the FCA rightfully requires for LTAFs to be approved demands high-quality investment experience, market-leading technology, and highly specialised teams. We are the first independent ACD to have an LTAF approved and it is a huge testament to our team’s skill and professionalism. This is a big moment for Waystone and our UK business, and we continue to focus on bringing more of these to market in the not-too-distant future.
Today’s announcement is another step toward unlocking the substantial capital within pension funds, stimulating economic growth and creating new investment opportunities”.
Waystone was advised by Macfarlanes, London-based law firm specialising in servicing the legal needs of the fund management industry.
How Waystone can help
Waystone is a leading provider of institutional governance, 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 is now supporting asset managers with more than US$2Tn in AUM. 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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