HedgeCo.net –DUBLIN, APRIL 16, 2007 – Custom House Administration & Corporate Services Limited (“Custom House”), one of the world’s largest independent administrators, today announced that it has topped $25 billion in combined client assets under administration for the first time.
The firm also announced that its representative offices in Singapore and Chicago are growing, with 10 and 21 employees in each office respectively.
“We are thrilled to reach this important milestone,” said Dermot Butler, Chairman of Custom House. “With all three offices using the same systems, operating off our central servers in the Dublin head office, Custom House now has a seamless 24/7 operation in place.”
“The ’round the clock’ structure that we now have in place enables us to work through time zones, maximizing efficiencies,” said Mr. Butler. “This is especially true with regards to daily dealing funds where the entire process, from trade capture to reconciliation to NAV calculation and distribution, can be done in a single trading day from Singapore to Dublin to Chicago.”
Mr. Butler confirmed that Custom House currently produces over 50 daily NAVs.
“Our new ‘global foot print’ also means we can serve clients in their own time zones in Europe, North America and South East Asia and we are now actively looking for such clients,” Butler added.
“We see great potential for further growth as the overall industry continues to grow and as investors continue to demand not only transparency and independent third-party reporting, but also more frequent valuations,” said David Blair, Managing Director of Custom House.
About Custom House Administration & Corporate Services Ltd.
Custom House Administration & Corporate Services Limited was established in Dublin in 1989 and is authorized by IFSRA (the Irish Financial Services Regulatory Authority) under Section 10 of the Investment Intermediaries Act 1995 to provide administration services to collective investment schemes. The Chicago and Singapore offices are not regulated by the Irish Financial Regulator. Custom House currently administers circa US$25 billion for over 260 funds for more than 110 investment management clients. Custom House is the only hedge fund administrator to have been awarded a “Management Quality” rating from Moody’s. For more information see www.customhousegroup.com.
