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Nedgroup Investments appoints Fortis as fund administrator

Posted: 06 June 2008

Nedgroup Investments - a fund of funds provider - has appointed Fortis Prime Fund Solutions' Isle of Man office as its new Administrator for all of its funds, as it gears up for further growth.

Nedgroup Investments' assets under management have grown steadily over the past 24 months, and are set to accelerate with the launch of its newest fund of hedge funds in February, Nedgroup Investments Premium Portfolio PLC, which is aimed at Institutional Investors.

The new fund is its second fund of hedge funds and follows the success of its Target Return Fund, which aims for an annual return of 3-5% above USD LIBOR.

Nedgroup Investments' other funds include hybrid and long only funds. Comprised from a range of long and hedge strategies, the hybrid funds are a low volatility Guarded Fund, a higher capital growth Accelerated Fund and a Diversified Fund, which is designed to limit risk by using a diverse portfolio of assets based on a balanced type mandate.

Together with its three long only funds: the Absolute Growth Fund, the Absolute Balanced Fund and the International Bond Fund, the eight Nedgroup Investment funds have a combined AUM of US$930m.

Andrew Lodge, CEO of Nedgroup Investments, commented:

"Fortis has an outstanding track record of managing scalability, which aligns with our business growth plans. The transition of our fund administration services to Fortis will support our future business growth as we look to develop more technical products across a broader range of asset classes whilst maintaining tight operational controls, due diligence and best execution.

"The Fortis team demonstrate an aligned commitment to high fund administration standards. As we move from a bull to a bear market cycle, the ability for the back and middle office to provide timely and accurate fund admin services across an evolving range of asset classes is going to be paramount."

 

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