International fund service provider Ifina Group and Isle of Man-based fiduciary service provider IQE have announced a co-operation initiative designed to strengthen both firms’ expertise, extend the services offered to clients and allow each firm to gain access to new jurisdictions. According to Ifina director Derek Adler (pictured), the two firms have been in discussions about possible co-operation for several months.
International Financial Administration Group is a multi-jurisdictional group of companies providing investment fund formation and administration and valuation services for investment funds domiciled in major centres including the UK, British Virgin Islands, Cayman Islands, US, Malta, Switzerland, Austria, Panama, Hong Kong and Singapore.
Ifina specialises in providing a comprehensive fund formation and licensing service for a competitive all-inclusive fee, comprising fund incorporation, drafting of offering documents and management agreements, preparation and submission of the fund licence application, legal review of the offering document, establishment of bank and broker accounts, and appointment of auditors and legal advisors.
Ifina provides ongoing administration and valuation services, including registrar and transfer agency services and timely preparation of net asset valuations. A key feature of the valuation service is that indicative daily NAVs are calculated for all of the firm’s client funds.
IQE provides international fiduciary services to private and corporate clients and was one of the first companies to receive a corporate service provider’s licence from the Isle of Man Financial Supervision Commission. It recently established operations in Mauritius and Cyprus.
The firm works with leading professional advisers in providing tailor-made solutions, forming and administering structures, with deep expertise in property development, employee and consultancy services and investment holding. Its team is drawn from legal, accountancy, company secretarial and compliance backgrounds.
IQE’s dedicated corporate team, with has a strong focus on capital markets, is active in forming and managing companies that are listed or quoted on London’s AIM market and recognised stock exchanges, as well as providing services to private equity investment vehicles looking to pursue an initial public offering.
“The main purpose for this initiative lies in the fact that both firms provide complimentary services in the financial arena,” Adler says. “It was clear from the outset that the philosophy for conducting business and the manner in which the two businesses were managed were virtually identical, and that the combined offering of products and services would extend far beyond that of each operation individually. Our co-operation will be of great benefit to our respective client bases and provide both groups with a greater foundation from which to develop.”