PRESS RELEASE 23 JUNE 2014
INDOS Financial lists over 20 clients for AIFMD Depositary-Lite services;
First client went live on 1st June
INDOS Financial Limited (“INDOS”), the first UK authorised Alternative Investment Fund Managers Directive (“AIFMD”) depositary, has commenced providing its independent AIFMD depositary-lite service to its first hedge fund client, and is preparing to go live with more than 20 others.
With the end of the AIFMD transitional period now only four weeks away on 22 July, European managers that wish to market non-EU alternative investment funds in Europe need to comply with the AIFMD’s depositary-lite requirements, or face marketing restrictions from this date.
Bill Prew, CEO of INDOS, said “We went live with our first client – the Westray European Equity Fund managed by Trium Investment Management – on 1 June. We are operationally ready and in an excellent position to support any other hedge funds that require a solution ahead of 22 July.”
Neil Cowhig, COO of Trium Investment Management, commented “We selected INDOS because we were looking for a regulated, independent depositary solution. They took a proactive and flexible approach, working closely with our other service providers, to set up the fund by our deadline.”