A ManCo (Management Company) or AIFM (Alternative Investment Fund Manager) is a service provider that is a regulated entity responsible for the management and oversight of investment funds, ensuring compliance with applicable laws and protecting investors' interests. ManCos primarily operate under the UCITS Directive (2009/65/EC) for UCITS funds. AIFMs are regulated under the Alternative Investment Fund Managers Directive (AIFMD) 2011/61/EU for AIFs.