INDOS Financial has reached the milestone of $5 billion of assets under depository.
The milestone has been reached in just 15 months since the firm started providing depository services to its first client in June 2014.
Since then, INDOS has grown its client base to more than 35 alternative investment funds. The funds range in size from $1.3 billion to $5 billion and cover open and closed-ended funds across multiple strategies.
It has also successfully established operational links with 15 fund administrators and 12 prime brokers and custodians.
Bill Prew CEO of INDOS Financial, commented: “In a little over a year, we have established ourselves as the leading independent AIFMD depository. Our growth reflects not only our increasing reputation but also the growing recognition across the industry of the benefits of an independent depositary solution.”
He continued: “We expect other managers to follow the lead of the $1.3 billion manager that has recently switched to INDOS from a depository 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.”
