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Real deal in fund services

Real deal in fund services

Monday 12 May 2014

Real deal in fund services


Aztec Group has won the Fund Administrator of the Year in the Real Deals Private Equity awards which recognises the best of European private equity.

The criteria for this inaugural award was the fund administrator’s capability to deliver services that ensure fund managers are compliant with the new Alternative Investment Fund Managers Directive. Aztec Group is working with a number of clients - including Henderson Global Investors, Equitix, Altor Equity Partners, Graphite Capital and BlueGem Capital Partners - in delivering depositary services that will ensure compliance with the directive.

Real Deals said Aztec's exceptional retention rate and detailed understanding of the commercial and regulatory issues gave the firm the edge.

In designing its depositary services offering, Aztec has built on its experience of meeting materially equivalent depositary obligations in the Channel Islands since 2007. With an appreciation that one size does not fit all for fund managers, the Group has developed two service models for delivering depositary services. These two services cover relationships where administration is outsourced and those where it is not, with processes that are ISAE 3402 accredited, tailored to dovetail into the clients existing operations.

The team at Aztec has monitored the development and implementation of the directive closely since its original proposal in April 2009. Members of the legal team have written extensively on the subject, and liaised with and lobbied regulators and industry bodies during the transposition process in order to ensure a sensible application for industry in the UK.

Aztec’s Head of Depositary Services, commented, Andy Brizell, said: We are delighted to have been recognised for our work in connection with the implementation of the Directive. Over the last few years we’ve spent a considerable amount of time tracking the development of this legislation and wherever possible, have argued for a pragmatic and intelligent application for industry. We’ve sought to reflect this approach in our depositary services offering by providing a low impact and proportionate service which is tailored to meet the needs of private equity, real estate and infrastructure managers and investors.”

 

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