Maples Fund Services Selected as Administrator for Promeritum Investment Management

Sep 15 2015 | 2:50pm ET

Promeritum Investment Management has selected Maples Fund Services to serve as administrator for the asset manager’s Promeritum Fund SPC, an emerging market fixed income hedge fund.

Maples, an independent global fund services provider and division of MaplesFS, will provide full administration services, including fund accounting, registrar transfer agent and FATCA services for the fund. Concurrently, Point Nine, a long-term partner of Maples Fund Services, has also been selected to provide middle and back office services to the fund.

The firm was awarded the business as a result of its high-touch approach to client service backed by a seamless integration of technological prowess and team with deep industry knowledge and expertise, noted a press release.

“We have been very impressed with Maples Fund Services’ core offering and the diverse range of complementary solutions they are able to deliver to our fund,” said Richard Mhende, Partner and COO at Promeritum, in a statement. “Given the consolidation currently occurring in the hedge fund industry, it is reassuring to know that we can rely on our administrator not only for the day-to-day fund operations but also for other ancillary services when needed.

"We have been hugely impressed with the quality, responsiveness and accessibility of the entire team across the corporate structure,” he added.

The fund seeks to realize exceptional returns via an investment approach that combines a selection of macro trends based on market information with in-depth analysis of credit and situations using superior access to issuers. Its investment strategy is focused on the expertise of portfolio managers and managing partners, Anton Zavialov and Pavel Mamai, who have over 15 years of experience in emerging market fixed income trading and emerging market credit, respectively.

The fund invests primarily in emerging market hard currency fixed income, local currency bonds, emerging market credit default swaps, distressed/restructurings, structured loans and opportunistically in emerging market foreign exchange and equities.

“We are thrilled about our new relationship with Promeritum and look forward to supporting their continued growth,” said Stephen Lewis, Maples Fund Services’ Regional head of sales and relationship management – Europe. “This is another example of our ability to provide adaptable solutions that can address hedge fund clients’ unique needs.”

Founded in 2005, Maples Fund Services is a leading independent global fund services provider operating in key onshore and offshore financial centers, including Boston, the Cayman Islands, Dubai, Dublin, Hong Kong, Luxembourg, Montreal, New York, San Francisco and Singapore. 

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