The Fund is supervised by the Luxembourg authorities, the Commission de Surveillance du Secteur Financier (CSSF) which is one of Europe’s premier regulators. Luxembourg is Europe’s largest fund domicile with almost EUR3.5 trillion under management and regulated under robust UCITS and AIFMD supervision.
A Specialised Investment Fund (SIF), the Fund is an internally-managed alternative investment fund and is approved under the AIFMD requirements to ensure a rigorous and transparent reporting structure. It is managed by a Management Board which comprises three managers, the General Partner and two external managers who are independent of GSA Coral S.à.r.l.
The Alternative Investment Fund Managers Directive (AIFMD) is a comprehensive directive to supervise and regulate the management of alternative investment funds. GSA Coral Portfolio SCA SICAV SIF is an internally-managed fund and is approved under these regulations. These requirements (including capital obligations, organisation and governance, and the regular disclosure of information to investors) build upon the already robust regulation that GSA Coral has had in place since its launch in 2009.
As a SIF, the GSA Coral Student Portfolio which is a compartment of the GSA Coral Portfolio, offers well-informed investors access to opportunities in the popular purpose-built student accommodation sector. Its constitutional documents provide for independent administration, custody (provided by a Depositary) and audit, all of which are provided by leading Luxembourg-domiciled professionals.
Investors benefit from the protection provided by the Depositary, Administrator and Auditor in providing statutory supervision of assets, fund administration and audit. These service partners have a statutory duty to ensure that all of GSA Coral’s transactions involving subscriptions, redemptions, asset purchases and disposals are not only carried out properly, but also that valuations and suitability for the fund’s investment mandate are stringently monitored.
The change of name to GSA Coral Portfolio SCA SICAV SIF received regulator approval on the 29th November 2016 and Shareholder approval on the 27th February 2017.