Maitland, a fund administrator, has reached USD100bn of assets under administration.
This follows a contract with South Africa’s largest multimanager, Investment Solutions, to administer its underlying investment manager portfolios.
Maitland operates internationally with South Africa as an offshore fund servicing location. The company has more than doubled assets under administration over the past three years and international fund managers now account for nearly half of its client base.
Chief operating officer Veit Schuhen believes that sustained market volatility together with an increasingly demanding regulatory environment will continue to favour third party administrators.
“The demand for transparency and demonstrably effective risk management processes will require ongoing and substantial investment in systems. These costs will make it increasingly difficult to justify the costs of keeping administration in-house,” he says.