The changing UCITS admin landscape
Mon Jun 11, 2012
The alternative UCITS sector poses opportunities and challenges for administrators. Joy Dunbar reveals the results of our latest survey of administrators in the sector.
The role of the traditional prime broker has been challenged by the growth of alternative UCITS and administrators are taking advantage.
One of the opportunities that administrators have taken advantage of is offering derivatives, collateral and over-the-counter services to asset managers – as well as traditional administration services such as calculating net asset values (NAVs) and handling subscriptions and redemptions.
Given that UCITS is an onshore industry this latest administration survey – which represents a snapshot of the industry at the beginning of 2012 – is heavily dominated by big global banking and financial groups.
BNY Mellon Alternative Investment Services administers 29 funds with assets under administration of $26.8 billion on the latest figures – up from 22 funds with just under $16 billion of combined assets one year previously.
This contrasts to the offshore hedge fund administration sector where the biggest player is Citco Fund Services which still leads...
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