First Independent AIFMD Depositary INDOS Financial Receives FCA Authorisation
INDOS Financial Limited (“INDOS”) has announced it has received authorisation from the Financial Conduct Authority (“FCA”) as an Article 36 Custodian to provide AIFMD depositary-lite services to non-EU alternative investment funds. INDOS is the first independent UK authorised depositary specialising in hedge funds.
Following the introduction of the AIFMD, many hedge fund managers are required to comply with the so-called ‘depositary-lite’ regime. Managers need to identify depositary providers such as INDOS in order to continue marketing their funds to EU investors after 22 July 2014.
Bill Prew, Founder and CEO of INDOS, said “Being the first independent firm to obtain an Article 36 Custodian authorisation is a major achievement and comes at a very important time. Many hedge fund managers are working towards submission of their AIFMD application for authorisation to the FCA. This authorisation will enable prospective clients to identify INDOS in their application with confidence”.
Bill continued “Our appointment to date by a number of hedge funds has been subject to receiving this authorisation. We can now focus on finalising arrangements with these clients and moving forward with on-boarding. We are confident many more will follow their path as managers value the benefits of our independent, flexible and transparent approach.”
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For more information contact Simon Rostron at Rostron Parry on 020 7490 8062 or Bill Prew at INDOS Financial on 0203 691 6327.