Maples Fund Services has been selected by Promeritum Investment Management (Promeritum) as administrator for the Promeritum Fund SPC, an emerging market fixed income hedge fund.
Maples Fund Services will provide full administration services, including fund accounting, registrar transfer agent and FATCA services for the fund. Point Nine, a long-term partner of Maples Fund Services, has also been selected to provide middle and back office services. The firm was awarded the business as a result of its high-touch approach to client service backed by a seamless integration of technological prowess and team with deep industry knowledge and expertise.
“We have been very impressed with Maples Fund Services’ core offering and the diverse range of complementary solutions they are able to deliver to our fund,” says Richard Mhende, Partner and COO at Promeritum. “Given the consolidation currently occurring in the hedge fund industry, it is reassuring to know that we can rely on our administrator not only for the day-to-day fund operations but also for other ancillary services when needed, ensuring we meet investor and regulatory requirements. Furthermore we have been hugely impressed with the quality, responsiveness and accessibility of the entire team across the corporate structure.”
The Fund seeks to realise exceptional returns via an investment approach that combines a selection of macro trends based on market information with in-depth analysis of credits and situations using superior access to issuers. The investment strategy is focused on the areas of expertise of portfolio managers and managing partners, Anton Zavialov and Pavel Mamai, who have over 15 years of experience in emerging market fixed income trading and emerging market credit, respectively. The Fund will invest primarily in emerging market hard currency fixed income, local currency bonds, emerging market credit default swaps, distressed/restructurings, structured loans and opportunistically in emerging market foreign exchange and equities.
"We are very excited that Promeritum has selected Point Nine for technology and middle office operations support," says Pavlos Christoforou, Managing Partner at Point Nine. "Promeritum is a new addition to our client list and we are proud to be associated with such a prestigious investment manager. We look forward to providing a seamless and accurate service to Promeritum and continuing our successful partnership with Maples Fund Services."
“We are thrilled about our new relationship with Promeritum and look forward to supporting their continued growth,” says Stephen Lewis (pictured), Maples Fund Services’ Regional Head of Sales and Relationship Management – Europe. “This is another example of our ability to provide adaptable solutions that can address hedge fund clients’ unique needs.”
