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MainstreamBPO granted fund administrator approval by MFSA

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Australian-based fund administrator MainstreamBPO has expanded its operations into the UK and Europe following receipt of in principle regulatory approval from the Malta Financial Services Authority (MFSA) to act as a fund administrator.

The announcement follows the Ggoup’s recent move into the US via the opening of its New York office and acquisition of Fundadministration.
It also has operations in Australia, Hong Kong and Singapore.
Malta is one of the key domiciles of alternative investment funds in the European Union, alongside Luxembourg and Ireland, with a net asset value of EUR10 billion in over 500 locally based funds.
MainstreamBPO chairman and managing director, Byram Johnston (pictured) says the group’s Malta based fund services will be a beach head for the group’s operations in Europe, with a focus on administering UCITS and SICAVs.
"Europe and the UK are crucial for our ambition of attracting new hedge fund clients, while many of our existing clients in Asia and Australia are increasingly active in the region. With an administration centre in Malta we will be able to service UCITS and SICAV funds for our clients at the same level as Ireland or Luxembourg,” says Johnston.
To further establish its presence in Europe the group has opened serviced offices in London and Dublin and hired business development manager Colin Stott to be responsible for new business development in the region.
Prior to joining the group, Stott, who has more than 30 years’ industry experience, provided lead generation and outsourced business development services primarily targeting the private equity and alternative investment management industry in London and Europe.

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