Atla Group has completed the acquisition of Monument Re’s Isle of Man-based fund management business Monument International Fund Managers (IOM) Limited, taking a significant step forward in the expansion of its financial services offering. The fund management business will now operate as Atla Fund Services Limited (AFSL) and marks a new chapter in the provision of investment opportunities on the Island.
Originally established in the 1980s to service what is now the sole remaining Isle of Man Authorised Scheme, the business will continue its operations under Atla’s ownership. As part of the acquisition, the Authorised Scheme has been renamed Atla Investment Funds PLC (“the Fund”) and has been re-opened to new subscriptions. With the addition of Sterling share classes, local retail investors will now be able to access seven distinct investment funds, each with a separate investment focus.
As part of the transaction, the Isle of Man Financial Services Authority has approved an extension to AFSL’s regulatory permissions, allowing the business to manage and administer a broader range of fund investment structures. This provides a solid platform for Atla to expand its fund services offering over time.
Basil Bielich, Chairman of Atla Group, said: “This is an important milestone for Atla. We are delighted to welcome this well-established fund management business into the Group and to relaunch it with renewed focus. Reopening the Fund allows us to offer high-quality, professionally managed investment opportunities to retail investors, and strengthens the breadth of services we provide. We are excited about the growth potential for AFSL and its role in the Island’s financial services sector.”
Duncan Robertson, CEO of Monument International said: “We are pleased to have completed this transaction with Atla Group. This transaction will allow Monument to focus on its core Life Insurance strategy whilst at the same time ensuring that the customers in our fund business have an excellent new owner. Atla has shown a strong commitment to the long-term development of fund services in the Isle of Man, and we are confident that AFSL will thrive under their ownership. We thank all those involved for their cooperation and professionalism throughout the process.”
The AFSL Fund Services Team’s expertise, combined with Atla’s wider Group resources, ensures a seamless transition and a strong foundation for future growth. Atla Group is one of the Isle of Man’s leading professional services firms, providing a comprehensive suite of accountancy, tax and bookkeeping, corporate and trust, audit and assurance, advisory and retirement solutions to individuals, families and businesses. The addition of AFSL further strengthens Atla’s integrated offering and reinforces its position as a leading provider of accountancy and wealth management services on the Isle of Man.
For more information, please visit: Fund Services | Atla Group
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