JTC has partnered up with INDOS Financial to provide an independent depository solution for its alternative fund clients.
The pairing means JTC’s private equity, real estate, hedge and infrastructure clients will gain access to a depository specially designed to help them manage the requirements of the Alternative Investment Fund Managers Directive (AIFMD).
A fund administration service will also allow for an addition level of oversight.
INDOS Financial specialises in providing AIFMD depository services, and was the first AIFMD depository to be authorised by the FCA, in January 2014.
Bill Prew, CEO of INDOS Financial, said: “We are delighted to be working with JTC to provide an independent depositary solution to their clients.”
“Managers and investors are increasingly recognising the value of an independent depositary model. By working closely with JTC we have been able to implement an efficient model that minimises the operational impact on the client but at the same time delivers the benefits of independence from the fund administrator.”
Stuart Pinnington, group head of institutional client services at JTC, added: “While immediately following the introduction of the AIFMD managers might have appointed a depositary affiliated to a fund administrator, they are now armed with significantly more practical experience and are actively revisiting their depositary arrangements. In particular, there is undoubtedly a preference among investors for genuine independence between the depositary and the administrator.”
“In response to this demand, we are delighted to have formed this partnership with INDOS, who are a leading player in the depositary space and will provide significant value for our alternative fund clients.”
