INDOS pursues AIFMD depositary opportunities through FCA authorisation

INDOS, a depositary services provider, has applied for authorisation from the UK’s Financial Conduct Authority, seeking to take advantage of the ‘depsitary-lite’ approach allowed under the AIFMD.

The company, headed by Bill Prew, the former European chief financial officer of Barclays Global Investors, is focused on providing depsitary services to hedge fund managers seeking to comply with the AIFMD, that comes into force on 22 July this year.

Under the Directive, managers marketing offshore hedge funds to European investors must comply with certain depositary rules, including appointing a firm such as INDOS to perform oversight of fund valuation, subscriptions and redemptions, and compliance with laws, regulations and investment guidelines.

 

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