Seraphim Capital launches space tech fund
Monday, November 28, 2016
NCM Fund Services Limited is delighted to be assisting the Seraphim Capital team with the launch of their new space fund as detailed in the article below. NCM Fund Services are giving the Seraphim team temporary regulatory cover and will carry out all administration for the fund on an ongoing basis. We are very excited about this new venture in the private equity space allowing us to use our experience to assist another fund manager to a successful launch. NCM Fund Services also act as administrator to the existing Seraphim Capital LP.
NCM Brexit statement
Tuesday, June 28, 2016
“NCM are watching developments on Brexit and will keep all clients updated as and when there is any pertinent information which would affect the funds we administer or act as depositary to. The FCA have made the undernoted statement and basically it’s “business as usual” as far as the FCA is concerned. All the MiFID and AIFMD rules and regulations, any relevant legislation and NCM’s regulatory status remain unaffected by the Brexit vote for the time being".
On 23 June, the UK voted to leave the European Union (EU). This has significant implications for the UK.
The FCA is in very close contact with the firms we supervise as well as the Treasury, the Bank of England and other UK authorities, and we are monitoring developments in the financial markets.
Much financial regulation currently applicable in the UK derives from EU legislation. This regulation will remain applicable until any changes are made, which will be a matter for Government and Parliament.
Firms must continue to abide by their obligations under UK law, including those derived from EU law and continue with implementation plans for legislation that is still to come into effect.
Consumers’ rights and protections, including any derived from EU legislation, are unaffected by the result of the referendum and will remain unchanged unless and until the Government changes the applicable legislation.
The longer term impacts of the decision to leave the EU on the overall regulatory framework for the UK will depend, in part, on the relationship that the UK seeks with the EU in the future. We will work closely with the Government as it confirms the arrangements for the UK’s future relationship with the EU. “
Social Investment Awards
Friday, May 06, 2016
"Congratulations to Social Investment Scotland on their win at the Social Investment Awards where the Cabinet Office recognised organisations spearheading social investors and enterprises. Social Investment Scotland Community Capital Fund took home the New Social Investors Award for the best product attracting new investors into the social investment market. "
Social Investment Scotland (SIS)
Thursday, April 28, 2016
Last year Social Investment Scotland (SIS) Launched the UK's first Social Investment Tax Relief (SITR) fund, SIS Community Capital, and we can now report the successful divestment of all the proceeds. SIS were inundated with applications for this pioneering form of finance and ultimately invested in seven inspiring and impactful enterprises from across the country.
Thomas Gillan, Chief Financial Officer at SIS commentated, "SITR really does provide charities and social enterprises the means to access flexible and affordable investment. In offering this fund, SIS has seen a significant level of interest from both investors and sector organisations and we're keen to do more in this space going forward".
NCM Fund Services assisted in the establishment of the SITR fund and act in an ongoing capacity as regulated fund manager.
Social Finance - New appointment
Wednesday, January 20, 2016
We are delighted to again be working with Social Finance and have been appointed to act as operator and administrator in relation to their new Care and Wellbeing Fund. This Fund has £12 million of investment from Big Society Capital and Macmillan Cancer Support, and development funding from the Health Foundation. The Fund will develop and scale new and existing community care services for people affected by cancer and other long term conditions. Its first investment will tackle loneliness and social isolation in Worcestershire.
New Depositary Services Client
Thursday, December 17, 2015
NCM are delighted to announce they are acting as depositary to a new client which is a UK LP with a US based investment adviser (and UK based AIFM) making loans to start-up technology companies who have been through their accelerator programme. If a company is selected, it is given a small amount of money and then attends a programme lasting 3 months during which it develops its idea, receives mentoring and help with a business plan. At the end of this there is a "Demo Day" where the companies show what they have achieved – this may lead to the company receiving a further round of investment.
NCM London Client Event - 26 November 2015
Tuesday, December 01, 2015
On 26 November 2015, NCM held an event for clients at the RAF Club in London. The highlight of the evening was a talk given by Captain David Wiseman. David was severely wounded in 2009 whilst on duty in the 2nd Yorkshire Regiment in Afghanistan, receiving a gunshot wound to the chest. Since then David has made a remarkable recovery. In 2012 David was part of a team of wounded ex-servicemen who set out to climb Everest, in support of Walking with the Wounded accompanied by NCM’s chairman Henry Chaplin. Only unseasonably warm weather and the resulting extremely dangerous conditions prevented the team from reaching the summit.
David has since been involved with The Endeavour Fund which was created by The Royal Foundation in 2012, and was Deputy Events Organiser for the inaugural Invictus Games in 2014. In addition to organising the event, David also competed and won 2 gold and 2 silver medals in the swimming competition.
We are grateful to David for his inspirational talk and sharing his experiences with us.
NCM announces the appointment of James Sullivan as a Non-Exec Director
Wednesday, October 07, 2015
Henry Chaplin, Chairman of NCM Fund Services Limited said “We are delighted that James has agreed to be a Non-Executive Director. James brings a wealth of commercial experience and his insight and skills will be a valuable addition as we focus on our future development."
James Sullivan is a Solicitor who has over 15 years' experience working for multi-national organisations. Bringing a wealth of experience in the investment management of alternative assets, he has specialist expertise in fund and joint venture structuring and formation, marketing of unlisted funds, investor corporate governance, insurance and risk, and asset financings. In his current role as General Counsel for a European real estate investment manager, he sits on the senior management team, and participates in the investment and risk committees. He has also led an AIFMD review and managed the process for authorisation as a full-scope AIFM for which he holds the Compliance & Money Laundering Reporting Officer roles. Previously James was the Managing Director of an FSA-approved operator overseeing £2bn of funds under administration and 60 fund structures, and oversaw the restructure and subsequent disposal of the business. James has an Executive MBA from Cass Business School.
NCM Depositary Services Limited announces the appointment of Sandra Hope as a Non-Executive Director
Thursday, October 01, 2015
Henry Chaplin, Chairman of NCM Depositary Services Limited said “We are delighted that Sandra has agreed to be a Non-Executive Director. Sandra brings with her a wealth of experience and will be a valuable addition to the expanding team at NCM.”
Sandra Hope is a Director of Clydesdale Bank plc (part of the National Australia Bank) working in a specialist Growth Finance team that provides debt funding to high-growth, equity backed UK technology businesses. Prior to joining Clydesdale Sandra had previously worked with Henry Chaplin and Kathleen McLeay at Noble having been Founding Director No. 2 at Noble Venture Finance ('NVF'), a Jersey based £100m venture debt fund established in December 2003 to lend to privately held Venture Capital backed growth companies across Europe. NVF was managed by Noble and by the end of 2010, had provided in excess of £120m to 46 companies in 10 countries. Prior to NVF and following graduation from the London School of Economics, Sandra spent 20 years with Kleinwort Benson/Dresdner Bank in a variety of asset finance, infra-structure and project finance areas as both lessor, lending principal and advisor.
NCM Fund Services awarded fund management mandate for hydro fund
Friday, August 28, 2015
NCM Fund Services Limited has been appointed by Gilkes Energy Limited to provide Fund Management and Fund Administration services to the recently launched Gilkes Hydro Investments Limited. Gilkes Energy Limited will act as Developer and Portfolio Asset Manager.
Gilkes Hydro Investments Limited has successfully raised c£40m for a number of Scottish based hydroelectric power projects.
Gilkes Energy Ltd (GEL) specialises in the development of hydropower projects, especially joint ventures with landowners. Building upon the 160 year track record of its parent company Gilbert Gilkes & Gordon Ltd (GGG) GEL has put together a highly-skilled development team which includes a full suite of engineering, commercial, financial and legal expertise ‘under one roof'. Gilkes are the leading hydroelectric turbine manufacturer in the UK for projects up to 20MW.