Quintillion has been chosen to provide administration services to the Derwent Absolute Return Fund.
Derwent Capital Markets has already attracted a large amount of publicity around the launch of the Absolute Return Fund. The fund plans to use sentiment signals from aggregated Twitter messages to predict short-term changes in broad stock market indices.
Quintillion will provide the fund with a complete range of administration services, including NAV calculation, investor servicing, anti-money laundering checks and financial reporting.
Eoghan McAteer, Senior Manager at Quintillion says: “We are delighted to have been awarded the administration mandate for Derwent Capital Markets and look forward to working with them on this innovative project."
Commenting on the appointment of Quintillion, Paul Hawtin, Managing Director and Partner at Derwent (pictured), says: “We selected Quintillion as fund administrator for the Absolute Return Fund as they came highly recommended. Our choice and those recommendations have been completely validated. Quintillion and Derwent have worked closely together during this launch phase and we have been extremely impressed by the level of service and pro activeness demonstrated in all areas. Quintillion was the right choice for us and we look forward to continuing to partner as we build our business.“
