JTC, a provider of fund, corporate and private client services, has partnered with UK-based INDOS Financial to offer an independent depositary solution for its alternative fund clients.
The collaboration will allow clients of JTC’s private equity, real estate, hedge, infrastructure and other alternative funds get access to a specialist depositary.
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Indos Financial said that this will allow managers comply with EU Alternative Investment Fund Managers Directive (AIFMD) requirements, and offer an additional level of oversight.
INDOS Financial CEO Bill Prew said: "Managers and investors are increasingly recognising the value of an independent depositary model. By working closely with JTC we have been able to implement an efficient model that minimizes the operational impact on the client but at the same time delivers the benefits of independence from the fund administrator."
INDOS Financial offers independent AIFMD depositary services to alternative investment funds. The British firm, which was the first AIFMD Depositary authorised by the FCA, offers depositary services to over 50 funds that manage asset of over $9bn.
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