UBS Global Asset Management has announced that its Hedge Fund Services business has reached the milestone of US$100 billion of assets under administration.
UBS has offices in Grand Cayman and Dublin.
The business, with a professional staff of 140, holds a leading position in hedge fund administration services and benefits from a significant ongoing investment in state-of-the-art technology, states a press release.
The business provides a complete range of services including accounting, NAV computation, shareholder services, banking and credit facilities. Hedge Fund Services administers over 700 funds with assets balanced between single funds and funds of funds.
The business has a specialized team to service the unique needs of both sets of clients. Its offering to fund of funds sponsors includes specially tailored services such as global custody and settlement services, credit facilities and foreign exchange hedging.
For single manager funds, the business offers considerable expertise in valuing complex instruments, and a global platform with connectivity to all the major prime brokers. All valuations are conducted independently from the fund’s own prime broker.
Sean Flynn, head of Hedge Fund Services, said “We are very pleased to have reached this milestone. It illustrates the confidence that our clients have placed in the business. Clients – both private and institutional – expect full service capability from day one. To continually meet their needs in this competitive industry, you need the experience to understand their requirements and the scale to deliver.
‘We are continually investing in people and infrastructure: by hiring and training qualified, experienced staff; and ensuring we have accurate, timely reporting and robust systems.’
One of the world’s top ten hedge fund administrators, UBS has administration offices in the Cayman Islands (established in 1972) and Dublin (established in 2004). Clients include asset managers, institutional investors and family offices.
The business expects to expand this network with offices in North America and Asia in 2006 to better meet the needs of clients in their own time zones.