EIM, a global manager of tailor-made portfolios of hedge funds, has appointed Deutsche Bank to assist in the creation of a dedicated managed account platform.
The new initiative aims to provide clients by the end of the year with enhanced controls, transparency and risk management.
EIM and Deutsche Bank believe the initiative will offer significant enhancements for hedge fund investors.
In particular, its features will include: unconstrained access to a broad range of managers and strategies; mutually agreed and binding investment guidelines between EIM and managers; and independent administrators and custodians.
EIM will be responsible for the creation of the platform and Deutsche Bank will be responsible for handling the servicing.
EIM’s risk management will be further enhanced through Deutsche Bank’s risk monitoring and governance controls at the manager level.
Arpad Busson, founder and chairman of EIM, says: “EIM has always been an innovator and I am delighted that we are announcing today the next stage in our evolution. The EIM/Deutsche Bank dedicated fund platform marks a milestone in addressing client needs for the highest standards of fiduciary control. As we develop the platform, we will stay true to our ethos of offering our clients customised solutions based on any combination of conventional funds together with dedicated managed accounts on the platform.”
Stephane Farouze, global head of fund derivatives at Deutsche Bank, says: EIM has been a long standing pioneer in modern portfolio management and we're proud to have been recognised as the market leader in providing infrastructure and risk management of hedge funds through managed accounts. The EIM platform will bring more of the world's leading managers into the managed account framework which will further bolster this healthy trend across the industry.”
EIM has been developing the platform for the past eight months.