Absolute return manager picks SEI for Irish funds

Absolute return manager 36 South Capital Advisors has appointed SEI to service its Irish-domiciled funds.

36 South Capital Advisors, the London offshoot of New Zealand parent investment manager 36 South, is to have all of its volatility funds administered by outsourcing firm SEI.

SEI has a total of 350 investment manager clients, which include mutual funds, private equity funds, exchange traded funds, collective trusts, separately managed, institutional and private client accounts, as well as hedge funds.

Of the 2,200 funds it services, 950 are hedge funds and funds of hedge funds.
“SEI’s global presence, technology and scalability were critical for us as we sought an outsourcing partner,” said Richard Haworth, partner and CIO at 36 South Capital Advisors.

The firm’s “Manager Dashboard” forms the core of its fund administration service. It gives “flexible, transparent, and aggregated views of data across multiple product lines from the fund or portfolio level to investment detail via the web,” SEI said.

36 South will use the platform to view data related to holdings, transactions, and performance. More comprehensive access to data will allow for a better investor experience, said Haworth at 36 South.

Eight months ago, the absolute return manager decided to re-domicile its seven funds from the unregulated Cayman Islands to Ireland.

It wanted a regulated environment for its funds and the “unique umbrella and sub-fund structure with segregated liability between the sub-funds” that Ireland offers, a spokesperson said. The process of re-domiciliation is due to be completed on 1 March 2011.

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