InfraHedge, a managed account infrastructure platform and a subsidiary of State Street, has been chosen by Milltrust International Group for the launch of its Emerging Markets Managed Accounts (EMMA plc) platform, a dedicated emerging markets fund management platform housed within a single custodian relationship.
EMMA selects best of breed investment managers in high-growth emerging markets and has been promoted by Milltrust International as a Dublin-based Ucits umbrella fund.
The fund has launched with three sub funds managed by Bank Itau, BTG Pactual and Value Partners, focusing on Brazil, Latin America and Greater China respectively.
“Milltrust wanted the freedom to work with the managers of their choice and deploy capital through an institutional-standard, Ucits-compliant infrastructure that could handle investments in BRIC markets and provide detailed daily risk analytics,” says Akshaya Bhargava, chief executive of InfraHedge. “The flexibility of our platform infrastructure and our ability to work with multiple fund managers dealing in multiple markets made InfraHedge an ideal fit. We are delighted to have been chosen to help Milltrust create a truly innovative investment platform for their clients.”
“The Milltrust proposition is based on careful selection of high-quality managers operating on the ground in high-growth markets, and is offered to investors though a single-custody managed account infrastructure that meets the rigorous requirements of the Ucits directives,” says Simon Hopkins (pictured), chief executive of Milltrust International Group. “Our aim is to offer an alternative to the single manager global emerging markets funds that today dominate emerging markets investing. We found the integrated nature of the InfraHedge offering compelling as it seamlessly combines custody, fund administration and investor services across multiple accounts within a single platform, providing the strong transparency and governance services that our investors expect from a managed account structure.”