Cantab Capital Partners LLP has appointed UK AIFMD depositary Indos Financial to provide depositary services to its CCP Quantitative Fund and CCP Core Macro Fund hedge funds.
Indos Financial said the appointment marked the third depositary switch to itself in the past six months from three different depositaries, of which two represent funds with assets in excess of $1bn.
Bill Prew, CEO, said “We are delighted to be working with Cantab Capital. Increasingly managers are recognising the benefits of an independent depositary solution and we look forward to delivering our transparent and value-add service to the Cantab Capital funds.”
Fraser McIntyre, partner and COO of Cantab Capital Partners, said the appointment came after it reviewed the existing use of a depositary affiliated to its fund administrator, and decided that more value could be added by using an independent depositary such as Indos Financial.
““Following the introduction of the AIFMD, like many managers we initially appointed a depositary affiliated to our fund administrator. Almost two years on, we recognise that independence between the depositary and the fund administrator will add more value to our investors, the funds’ directors and our business. Indos has established an excellent reputation as an independent depositary. We have been impressed with their management of all aspects of the transition and look forward to working with the team.”