Maitland Fund Services, a specialist international fund administrator, has been appointed by fund of hedge funds manager Blue Ink as independent administrator of its range of retail and
Maitland Fund Services, a specialist international fund administrator, has been appointed by fund of hedge funds manager Blue Ink as independent administrator of its range of retail and institutional funds.
Blue Ink Investments has around EUR261m in assets under management spread across ten funds of hedge funds. Administration of the funds will transfer to Maitland on 1 June 2009 and will serve to boost funds under administration in Maitland’s Fund Services division to in excess of EUR31bn.
Veit Schuhen, chief executive of Maitland Fund Services (pictured), says: ‘We are experiencing an increase in demand from investment managers for more frequent independent valuations and add-on services connected with transparency, including risk management reports both for managers and investors. A key strength of Maitland’s administration systems is the ability to receive fund data from multiple sources and currencies and produce a consolidated record for multi-managed funds. Access to current portfolio data better enables managers to optimise investment strategies and manage investment risk more effectively. These are significant differentiators in today’s volatile markets. ‘
Esmarie Strydom, Blue Ink Investments’ chief executive, adds: ‘Blue Ink’s rapidly growing asset base has necessitated the need to review its administration processes. Following an extensive evaluation of service providers, we concluded that the Maitland systems were best suited to providing our funds, and ultimately our clients, with the most comprehensive and effective administration service.’
