Charter Group has teamed up with Brian Taitz to launch a hedge fund administration firm, Charter Group Fund Administration.
The firm is based in the City of London and focuses primarily on offshore funds managed by boutique fund managers.
Taitz founded and managed a fund administration operation in Sydney before relocating to the UK.
Taitz says the UK market is fragmented with larger administrators turning away smaller funds and relying more on their size than their service levels to win clients. This leads to clients having to look to foreign providers to fill the gap and then having to deal with a plethora of issues such as time zones and language or cultural differences.
Charter Group Fund Administration offers full service fund administration to offshore funds and caters for a wide variety of strategies including equity long/short, long only, market neutral, arbitrage, global macro, private equity, fund of hedge funds and others. For more traditional funds, the firm offers an attribution/ performance analysis reporting service.
“Our clients are not just one of hundreds fighting for management’s attention which may be the case at the larger shops,” says Taitz. “Our key strategic differentiator, however, is to pace our growth. As a result we will position ourselves as a premier provider of fund administration services to boutiques. We will soft close periodically to ensure that service levels are never compromised.”
