Atla Group has completed the acquisition of Monument Re’s Isle of Man-based fund management business Monument International Fund Managers (IOM) Limited.
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 and has been re-opened to new subscriptions.
Acquisition
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, including our own colleagues, 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.”
