Funds: Vistra, Frostrow Capital, Northern Trust, Eagle River, Nikko/Shelton Capital
Privium appoints Vistra to service funds out of Luxembourg on platform, Frostrow Capital opens business in Guernsey, Northern Trust becomes custodian for London manager, FRM Capital Management invests in Eagle River fund, Nikko to run Greater China fund for Shelton.
The fiduciary services provider will administer funds out of Luxembourg operating on UK based manager Privium’s selection platform.
The Privium Selection Fund will be managed by Privium itself, but the Luxembourg platform will be used to launch different styles and sizes of funds.
Vistra set up and marketed the Privium platform, which aims to improve time to market for managers looking to launch their funds.
Back in the UK, Privium’s team which consists of Paul Smith, Clayton Heijman and Nick Paris, will work to support fund launches for European and US alternatives managers.
The UK company which offers administrative services for investment trust boards has expanded its business into Guernsey.
Supplying accounting, company secretarial, administration, sales, marketing and investor communications services, but not portfolio management, Frostrow Capital (Guernsey) Limited will combine its own expertise with that of the local market.
Demand for Guernsey-domiciled funds has driven the move. At the end of 2010, closed-ended funds under management and administration in Guernsey were in excess of £100bn.
The global custodian has had its five-year contract with London-based manager Taube Hodson Stonex Partners LLP extended with an appointment to service the firm’s open-ended funds.
The appointment makes Northern Trust the custodian of $925mn in assets. Taube Hodson Stonex Partners manages global, European and UK equity funds.