Two new funds for INDOS Financial 12 April 2016London Reporter: Stephanie Palmer
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INDOS Financial has been appointed to provide depository services for two quantitative hedge funds managed by Cantab Capital Partners.
The specialist Alternative Investment Fund Managers Directive (AIFMD) depository service provider will take on the CCP Quantitative Fund and the CCP Core Macro Fund.
Both funds are transferring from a depository affiliated with their fund administrator.
The mandate represents the third depository switch to INDOS in the last six months. Two of these funds had assets in excess of $1 billion.
Bill Prew, CEO of INDOS Financial, said: “We are delighted to be working with Cantab Capital. Increasingly managers are recognising the benefits of an independent depositary solution and we look forward to delivering our transparent and value-add service to the Cantab Capital funds.”
Fraser McIntyre, partner and COO of Cantab Capital Partners, added: “Following the introduction of the AIFMD, like many managers we initially appointed a depositary affiliated to our fund administrator. Almost two years on, we recognise that independence between the depositary and the fund administrator will add more value to our investors, the funds’ directors and our business.”
“INDOS has established an excellent reputation as an independent depositary. We have been impressed with their management of all aspects of the transition and look forward to working with the team.”
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