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INDOS Financial has $5Bn assets under depositary

First Published 15th September 2015

INDOS Financial, the UK independent AIFMD depositary, announces it has reached the milestone of $5billion of assets under depositary.

Bill Prew, INDOS Financial

Bill Prew, INDOS Financial

"Our growth reflects not only our increasing reputation but also the growing recognition across the industry of the benefits of an independent depositary solution."

The milestone has been reached in 15 months since the firm started providing depositary services to its first client in June 2014. During this period INDOS Financial has:

  • Grown its client base to over 35 alternative investment funds. The funds range in size from $5m to $1.3bn, and cover open and closed ended funds across multiple strategies;
  • Established operational linkages with 15 fund administrators and 12 prime brokers and custodians;
  • Expanded its FCA regulatory permissions to include the safe keeping of financial instruments for non-EEA funds and the ability to act for UK private equity and real estate funds;
  • Signed up non-EEA clients requiring a depositary solution in order to market into both Germany and Denmark under Article 42 of the AIFMD;
  • Won and commenced servicing a $1.3bn fund depositary mandate switch from a leading service provider, with further switches expected; and
  • Become an affiliate member of the Depositary and Trustee Association.

Bill Prew CEO of INDOS Financial, commented "In a little over a year, we have established ourselves as the leading independent AIFMD depositary. Our growth reflects not only our increasing reputation but also the growing recognition across the industry of the benefits of an independent depositary solution."

Bill continued "We expect other managers to follow the lead of the $1.3bn manager that has recently switched to INDOS from a depositary affiliated to its fund administrator. Managers are increasingly looking for an independent service which adds value to their business and provides a genuine additional level of checks and balances".

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