Tahoe City, California-based MVP Asset Management has appointed DB HedgeWorks Fund Services, which was acquired by Deutsche Bank in January, as the new administrator to the MVP Fund of Fun
Tahoe City, California-based MVP Asset Management has appointed DB HedgeWorks Fund Services, which was acquired by Deutsche Bank in January, as the new administrator to the MVP Fund of Funds.
‘After an extensive search that included interviews with many top-tier fund administration institutions, it was decided that Deutsche Bank presented the best fit with the needs of the fund and our investors,’ says MVP chief executive Michael Stratford. ‘Deutsche’s experience, expertise and technology are undoubtedly world class and we look forward to working closely with them on behalf of the fund.’
Established in 1999, DB HedgeWorks is part of Deutsche Bank’s trust and securities services business, offering a full range of administrative services to onshore and offshore hedge funds, funds of funds and other alternative investment products, and enjoys access to more than 1,100 professionals providing securities and administrative services to institutions worldwide.
‘We were impressed by the measures [DB HedgeWorks] takes to mitigate the potential risk of errors to produce NAVs and other reporting that is consistently accurate and on time, with robust technology underpinning all of its core administrative services,’ Stratford says. ‘The technology lends itself well to incremental services, the benefits of which we can pass on to our investors.’
Under the agreement with DB HedgeWorks, fund investors will be able to access reports and statements through via a secure web site maintained by the administrator exclusively for the MVP Fund of Funds.
The MVP (for Monetary Value Protection) Fund of Funds has also posted strong performance under the difficult recent market conditions, reporting a positive return of 2.67 per cent for the five-month period to the end of March and total returns of 52.34 per cent over its nearly three years of existence.
‘In view of the considerable volatility of equity and debt markets so far this year, we are pleased with this performance,’ Stratford says.’ Our core strategy remains fully in place and we expect the fund to continue to enhance capital and, equally as important, preserve capital in very disruptive market conditions.’
MVP Asset Management was founded in 2004. The MVP Fund of Funds is a multistrategy fund currently available in US dollar, sterling and euro share classes and seeks to achieve low volatility through extensive risk management controls, producing consistent annual positive returns of 8 to 12 per cent irrespective of global equity market conditions. The fund is well diversified with more that 60 underlying funds and offers low correlation to traditional asset classes.
