Fund Management Group

What Fund Management Group does

Fund Management Group (FMG, legal entity AKJ FMG Limited) is a privately held boutique investment manager founded in 1989 and headquartered in Sliema, Malta, with a secondary operating entity in Bermuda (F.M.G. Fund Managers Ltd). It is licensed by the Malta Financial Services Authority as a full-scope Alternative Investment Fund Manager under AIFMD and is owned by AK Jensen Group Ltd following AKJ's February 2021 acquisition of FMG (Malta) Ltd. FMG specializes in emerging and frontier market equity investments, operating 7+ fund vehicles covering China, India, MENA, and diversified emerging markets strategies, plus the sub-advised AFC Asia Frontier, AFC Vietnam, and Partners Group Listed Infrastructure / Listed Private Equity funds. Select vehicles (MENA, Africa, New Frontier, Russian Federation First Mercantile) have been wound down or frozen, consolidating the surviving book around the FMG Emerging Markets Favourites (formerly Rising 3) and FMG Rising 6 strategies.

FMG runs a multi-managed and single-managed architecture: investments are sourced through rigorous screening and due diligence of seasoned local investment managers, with allocation decisions made by an in-house Investment Committee that monitors country-level and aggregate portfolio risk. Two investor classes exist — Experienced Investor Funds (Class A, EUR 10,000 minimum) and Qualifying Investor Funds (Class B, EUR 100,000 minimum) — generating recurring management fees on AUM. Distribution is primarily indirect through a global shelf of tier-1 banks, insurance wrappers, SIPP providers, and execution platforms. Revenue mechanics are AUM-based management (and potentially performance) fees; revenue, AUM, and headcount are not publicly disclosed.

Name

Fund Management Group

Legal name

AKJ FMG Limited

Website

https://www.fmgfunds.com/

Company type

Private

Founded year

1989

Operating status

Operating

Headcount range

11–50 employees

Short description

Fund Management Group is a Malta-based, MFSA-licensed boutique investment manager founded in 1989 that runs emerging and frontier market equity funds through multi and single-managed structures, serving qualified and institutional investors via a global bank and platform distribution shelf and owned by AK Jensen Group.

Ownership category

akta.pro rank

Product category

Emerging Markets Fund Management

NAICS

Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394), Funds, Trusts, and Other Financial Vehicles (525), Other Investment Pools and Funds (5259)

SIC

Investment Advice (6282), Finance Services (6199)

akta.pro primary industry

Thematic / Sector-Focused Multi-Manager Platforms (FSANAGAH)

akta.pro secondary industries

Emerging Manager / Seeding Platforms (Multi-Manager) (FSANAGAF), Managed Account / SMA Multi-Manager Platforms (FSANAGAL)

Keywords

• Emerging market funds
• Frontier market investing
• Alternative investment funds
• Multi-managed equity funds
• Fund management services

Headquarters

HQ city

Sliema

HQ country

Malta

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Alternative Investment Fund Management: FMG operates as an Alternative Investment Fund Manager (AIFM) generating revenue through management fees and potentially performance fees charged on assets under management across its fund family including emerging and frontier market equity funds.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels4 records

Core offering

Fund Management Group (FMG) operates as an Alternative Investment Fund Manager (AIFM) that launches and manages a family of equity funds focused on emerging and frontier markets. It employs both multi-managed and single-managed approaches, selecting seasoned local investment managers through rigorous due diligence to construct diversified portfolios covering China, India, MENA, Russia, frontier Asia, and broader emerging markets, with shares offered as Class A (Experienced Investor, EUR 10,000 minimum) and Class B (Qualifying Investor, EUR 100,000 minimum) structures.

Product overview

Fund Management Group (FMG) is an investment management company offering a portfolio of alternative investment funds (AIFs) focused on emerging and frontier markets. The product suite includes FMG's own funds covering China, India, MENA, and diversified emerging markets strategies, as well as third-party funds for frontier markets and specialized asset classes. FMG operates under a multi and single-managed approach, providing both Experienced Investor Funds (Class A, EUR 10,000 minimum) and Qualifying Investors Funds (Class B, EUR 100,000 minimum). The company is licensed as an AIFM by the Malta Financial Services Authority.

Differentiator

Problem solved

Functional benefit

Products and services

• FMG (EU) China Fund Equity fund focused on Chinese emerging market investments, offering exposure to China A-shares and Hong Kong-listed Chinese stocks with share classes in USD and GBP. Targeted at experienced and qualifying investors.
• FMG (EU) India Opportunity Fund Equity fund providing exposure to the Indian economy through multiple currency share classes (USD, EUR) for experienced and qualifying investors.
• FMG (EU) MENA Fund Fund investing in Middle East and North Africa equity markets including GCC countries, with exposure to regional equity markets for experienced and qualifying investors.
• FMG (EU) Emerging Markets Favourites Fund Diversified emerging markets equity fund (previously named FMG Rising 3 Fund) investing across China, India, and Russia with multiple currency share classes.
• FMG Rising 6 Fund Globally broad-based emerging markets fund providing exposure to Asia/China, India, Russia, Africa, the Middle East, and Latin America through a multi-managed approach.
• Russian Federation First Mercantile Fund Fund investing in Russian equities, currently closed for subscriptions and redemptions due to custodian uncertainty; available in USD, EUR, and GBP share classes.
• AFC Asia Frontier Fund Third-party frontier markets fund managed by Asia Frontier Capital, providing exposure to Asian frontier markets including Vietnam, distributed by FMG.
• AFC Vietnam Fund Third-party fund managed by Asia Frontier Capital focused on Vietnamese equities, targeting the Vietnam stock market's growth potential, distributed by FMG.
• Partners Group Listed Infrastructure Fund Third-party listed infrastructure fund providing exposure to global infrastructure assets, traded in EUR, distributed by FMG.
• Partners Group Listed Private Equity Fund Third-party listed private equity fund offering access to globally listed companies that employ private equity investment approaches, distributed by FMG.

Quantifiable outcome

• FMG has been rated by Morningstar and Barclay as top performers in multiple categories
• +1 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Malta Financial Services Authority (MFSA)coreOthersAKJ FMG Limited is licensed (IS/44040) by MFSA as AIF Manager under Investment Services Act Chapter 370. FMG is authorized as full scope AIFM under AIFMD Directive 2011/61/EU.
• Bermuda Monetary Authority (BMA)coreOthersAll investment funds managed by F.M.G. Fund Managers Ltd in Bermuda are authorized and regulated by the Bermuda Monetary Authority (BMA).
• AFC Asia Frontier Capital (Vietnam Fund Manager)minorStrategic or Co-development PartnerFMG distributes the AFC Vietnam Fund and AFC Asia Frontier Fund as sub-advised strategies. Asia Frontier Capital serves as the investment manager for these frontier market funds.
• Partners GroupminorStrategic or Co-development PartnerFMG distributes Partners Group Listed Infrastructure Fund and Partners Group Listed Private Equity Fund, offering exposure to listed infrastructure and private equity strategies.

Scale indicators3 records

Recent moves7 records

Expansion highlights4 records

Market position

Competitive moat5 records

Key highlights6 records

Customer concentration

• Xx.com/FMGFunds

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fund Management Group