Tuesday, 25 October 2016
Last updated 25 min ago
Apr 16 2010 | 9:02am ET
Fund administrator Daiwa Securities Global Asset Services has unveiled a new service that will provide authorized corporate director services (ACD) to UK-domiciled hedge funds.
The new program—Daiwa Fund Asset Services (DFAS)—was launched to compliment the existing fund services provided by Daiwa Securities Global Asset Services’ UK and Irish operations, which include administration, trustee and custody services.
“We believe the shift toward regulated products, driven by investor sentiment, creates a unique opportunity for service providers with the appropriate structures in place,” said Brian Guyett, chief executive of DFAS. “The establishment of our ACD offering will leverage off our 20 plus years experience in the fund servicing industry and will be of benefit to those promoters and investment managers interested in UK domiciled products.”
Fund industry veteran Geoff Mackay will manage the operations of the new service.
Currently, Daiwa services funds with assets in excess of US$60 billion.