State Street mandate for first Irish AIF 01 May 2014Dublin Reporter: Tammy Facey
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Marketfield Asset Management has mandated State Street to provide certain services to its Dublin fund.
The fund previously existed in the Cayman Islands, but has been redomiciled to Ireland as a qualified investor alternative investment fund.
The fund will be available in Europe under the Alternative Investment Fund Managers Directive (AIFMD) and is one of the first new alternative investment funds in Ireland.
State Street will provide depository, fund administration, regulatory reporting, risk reporting and liquidity monitoring services to the Dublin fund.
Michael Shaoul, chairman and COO of Marketfield Asset Management, said: “Our decision to redomicile our fund to Europe under the new AIFMD regime was consistent with our mission to provide a liquid transparent portfolio.”
Susan Dargan, executive vice president and head of State Street global services in Ireland, added: “We are delighted to provide Marketfield with a comprehensive suite of services to assist them in meeting the requirements of AIFMD.”
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