Licensing for EAM
Licensing requirement for EAM - Discretionary Asset Management including Fund Management
The capital markets services licence for fund management allows the EAM to manage a segregated portfolio of a client on a discretionary basis as well as the management of investment funds (collective investment scheme, in short “CIS”).
In addition to the management of investment funds (and segregated accounts), the fund management licence allows the EAM to offer investment funds that it manages or that are managed by other group companies (but the offering of investment funds is restricted to these types of investment funds under the fund management licence).
The CMS licence for fund management restricted to accredited and institutional investors (“A/I LFMC”) is commonly the main licence an EAM is holding or, in case of a smaller EAM, it will be authorised by MAS as a registered fund management company (“RFMC”).