Taurus acquires PFS-PAXUS to access Europe region

Taurus Administration Services, which is a subsidiary of Managing Partners Group (MPG), has acquired the PFS-PAXUS share registry and fund accounting platform from Pacific Fund Systems, to aid its broader entry into the European region.

MPG specialises in managing alternative assets, including funds that invest in traded policies. Its focus on European expansion follows the implementation of the AIFMD, which it believes will stimulate rapid growth in the European alternative investments market.

Nicholas Calleja, chief financial officer at MPG said:The Ucits regulations require funds to invest in funds that are highly liquid, which means mainstream assets such as equities, bonds and foreign currency only. But that does not help investment professionals who want to construct diversified portfolios that include less liquid alternative assets.”

“Thanks to the AIFMD the alternatives market in Europe is now potentially huge. The fund industry is gearing up to deal with demand for alternatives pursuant to the directive. However, most of the fund administrators in the market are so large they have no interest in startups or funds with less than $100m. A lot of boutique managers that struggle to find administrators still want to grow in size and Taurus is extremely well placed to provide the services they need.”

“The selection of PFS-PAXUS has been mainly due to the integrated nature of the system where the share registry is fully integrated with the system’s general ledger. We are focused on growing our business and in deploying PFS-PAXUS we are confident that this strategic decision will assist us in doing so.”

Taurus currently administers a diverse portfolio of investment funds and entities including hedge funds, mutual funds, Ucits, property funds, feeder funds, multi-share class funds, and funds with various segregated portfolios that follow various investment strategies. It is administrator to three alternative investment funds, and grew assets under administration from $80m to $192m over the past two years, across 11 funds.

Jonathan Boyd
Editorial Director of Open Door Media Publishing Ltd, and Editor of InvestmentEurope. Jonathan has over two decades of media experience in Japan, Australia, Canada and the UK. Over the past 17 years he has been based in London writing about funds and investments. From editing the newsletter of the Swedish Chamber of Commerce in Japan in the 1990s he now focuses on Nordic markets for InvestmentEurope. Jonathan was awarded Editor of the Year at the Professional Publishers Association (PPA) Independent Publisher Awards 2017. Shortlisted for the same in 2016, he was also shortlisted in 2017 and 2015 for the broader PPA Awards category Editor of the Year (Business Media).

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