Fidelity Investments has formed a strategic alliance with CAIS to provide its custodial clients access, education, oversight and execution to a wide range of alternative investment funds including hedge funds and private equity funds.
In a bid to offer integrated alternative investment offering for its clients, Fidelity has selected CAIS as the operating platform that will offer hedge funds and private equity funds to approximately 3,500 wealth management firms that custody at Fidelity.
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According to CAIS, Fidelity custodial clients will be benefitted from the elimination of annual custody-related fees for all fund orders executed through CAIS and held at Fidelity.
In addition, wealth management firms will be benefitted from an integrated Fidelity-CAIS technology experience with electronic trade execution, streamlined workflow and above-the-line reporting.
By using CAIS platform, wealth management firms can access a centralized and diverse menu of hedge funds and private equity funds; independent, third-party due diligence and monitoring on all funds provided by Mercer; portfolio construction and performance analytics tools; electronic trade execution; and fund support and education.
Rafay Farooqui, co-founder and president of CAIS, said: "The Fidelity – CAIS alliance offers meaningful benefits to CAIS clients. The combination of cost savings and improved product access aligns with advisors’ mission to provide the most competitive offerings to their clients."
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