GlobeOp Financial Services AuA has increased by 12%, to a record $167 billion in the quarter 31 December 2010, to 31 March 2011. It has increased 46% in the past 12 months.
Cash totalled $73 million (unaudited) as at 31 March 2011, a $26 million increase, 54%, since March 2010. The Company will make its planned dividend payment relating to 2010 on 26 May 2011 totalling approximately $5.0 million.
“Looking ahead, we see a broad array of revenue opportunities and a strong pipeline of new business.” Globeop said, “We expect the Kenmar Group to commence fund administration services with GlobeOp in the second quarter and we recently won an MBA mandate with another new client which is expected to commence in the late summer with up to $2 billion in AuA. Also during the second quarter, we are scheduled to commence OTC processing services related to a Transaction Solutions contract which was executed with a major European re-insurance specialist in late 2010.”
About Alex Akesson
Alex has been specializing in hedge fund and alternative investment news since April 2006. Working mainly in research and manager interviews, she has published breaking news on the hedge fund industry on her blog, as well as several industry publications.
Her access to hedge fund managers gives her insight into news stories as well, and the ability to track press releases and other breaking news in real time.
GlobeOp Hits Record AuA, Looks to Europe
GlobeOp Financial Services AuA has increased by 12%, to a record $167 billion in the quarter 31 December 2010, to 31 March 2011. It has increased 46% in the past 12 months.
Cash totalled $73 million (unaudited) as at 31 March 2011, a $26 million increase, 54%, since March 2010. The Company will make its planned dividend payment relating to 2010 on 26 May 2011 totalling approximately $5.0 million.
“Looking ahead, we see a broad array of revenue opportunities and a strong pipeline of new business.” Globeop said, “We expect the Kenmar Group to commence fund administration services with GlobeOp in the second quarter and we recently won an MBA mandate with another new client which is expected to commence in the late summer with up to $2 billion in AuA. Also during the second quarter, we are scheduled to commence OTC processing services related to a Transaction Solutions contract which was executed with a major European re-insurance specialist in late 2010.”
About Alex Akesson
Alex has been specializing in hedge fund and alternative investment news since April 2006. Working mainly in research and manager interviews, she has published breaking news on the hedge fund industry on her blog, as well as several industry publications. Her access to hedge fund managers gives her insight into news stories as well, and the ability to track press releases and other breaking news in real time.