Dedicated Funds

CMB stands out for being able to offer private clients personalised solutions through the putting in place of a dedicated fund – which is a possible solution for a Monegasque fund of EUR 20 million or its equivalent, except in the case of certain asset categories for which the type of market requires a larger size.

The Bank is the main player in the Monegasque funds market. It has launched and manages a large proportion of the 60 Monegasque funds authorised to date.

Monegasque law offers exceptional conditions for launching dedicated funds, with an approval time of just eight days from the date the full application has been filed. Including the time needed to put in place the administrative structures and draw up the legal documentation for a dedicated fund, such a fund can usually be put in place within a period of five to six weeks.

Apart from the discretion ensured by investing through a fund and the flexibility offered by an open-fund structure for organising the allocation of assets within a family, dedicated funds benefit under Monegasque law from both supervision by the custodian bank, independently of the fund management company, and regular audits by the statutory auditors, making this type of structure particularly secure and transparent.

Moreover, CMB offers institutional-type reporting for dedicated funds.

The financial management of a fund of this type may be delegated to a professional fund manager or submitted to its Board of Directors, subject to the necessary authorisations.