INDOS Financial interview with The Hedge Fund Law Report (part 1)
The Alternative Investment Fund Managers Directive (AIFMD) significantly changed the European legal and regulatory landscape for hedge fund managers, affecting their ability to market funds in Europe, increasing their compliance burden and imposing new requirements on managers.
In an interview with The Hedge Fund Law Report, Bill Prew, founder and CEO of INDOS Financial Limited, discussed AIFMD’s practical impact on the hedge fund industry since its introduction in July 2014.
The first article (the first in a two-part series) sets forth Prew’s thoughts about the effect of AIFMD on hedge fund managers and the ability of managers to market their funds across Europe. The second instalment will focus on the practical implications of the depositary requirements imposed by AIFMD on hedge fund managers, as well as other industry trends and issues.
To read the full HFLR interview click here (subscription required).
To read the latest INDOS Financial AIFMD depositary newsletter where we bring our news and views on industry developments, click here.
In this issue we cover:
Developments in fund governance and the regulatory outlook.
A spotlight on investment mandate and disclosure monitoring.
Our recent interview by Albourne TV.
Details of two new partnerships with JTC Group and Standish Management.
INDOS Financial named Best Depositary Solution at 2016 HFM Service Awards
22 April 2016: London
INDOS Financial, the UK independent AIFMD depositary, has been named Best Depositary Solution in the 2016 HFM European Hedge Fund Services Awards. It is the first time these prestigious annual awards have included a best depositary category.
INDOS won the award in recognition of its innovation as an independent depositary in a market otherwise dominated by depositaries affiliated to the fund administrator, exceptional client focussed service delivery and strong growth over the past 12 months. INDOS beat stiff competition from other shortlisted finalists including BNY Mellon, State Street and Deutsche Bank.
Collecting the award, Bill Prew, Founder and CEO of INDOS Financial, said “We are thrilled that INDOS has been recognised as the best depositary servicing the hedge fund industry. As the only specialist independent depositary in the market, the award recognises the inherent benefits of an independent solution that delivers value to investors, fund boards and managers. We would like to thank all our clients and other industry stakeholders that supported our application and our entire team for their incredibly hard work over the past year.”
About INDOS Financial
INDOS Financial specialises in providing independent AIFMD depositary services to alternative investment funds. INDOS was the first FCA authorised AIFMD Depositary in January 2014 and currently provides depositary services to over 50 funds that have over $10 bn in assets. Clients include EU and non-EU managers managing a broad range of open and closed ended alternative investment fund strategies ranging from hedge funds, to private equity, real estate and other closed ended funds.
INDOS Financial depositary assets rise through $10 billion
15 April 2016: London
INDOS Financial, the UK independent AIFMD depositary, announces it has passed the milestone of $10 billion of assets under depositary.
This milestone was achieved in only seven months since INDOS passed $5bn and less than two years since the firm started providing depositary services to its first client in June 2014.
Bill Prew CEO of INDOS Financial, commented “Passing $10bn of assets under depositary is another significant milestone for INDOS. We have seen growth across all segments of the business, including hedge funds, private equity and other closed ended fund structures, from clients that recognise the benefits of the depositary being independent from their fund administrator. We have an excellent pipeline of new business and expect further significant growth over the coming months.”
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INDOS Financial appointed to provide depositary services to Cantab Capital Partners
12 April 2016: London
INDOS Financial, the UK independent AIFMD depositary, has been appointed to provide depositary services to two quantitative hedge funds managed by Cantab Capital Partners LLP. The funds, CCP Quantitative Fund and CCP Core Macro Fund, transitioned to INDOS from a depositary affiliated to the fund administrator.
The transition marks the third depositary switch to INDOS in the past six months from three different depositaries, two of which represented funds with 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 Chief Operating Officer of Cantab Capital Partners, said “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.”
INDOS Financial specialises in providing independent AIFMD depositary services to alternative investment funds. INDOS was the first FCA authorised AIFMD Depositary in January 2014 and currently provides depositary services to over 50 funds with in excess of $10 bn in assets. Clients include EU and non-EU managers managing a broad range of open and closed ended alternative investment fund strategies ranging from hedge funds, to private equity, real estate and other closed ended funds.