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By Beverly Chandler, Opalesque London:
Self-styled specialist investment administrators, IDS, have built their offering to undertaking administration for some 180 funds of all types in the hedge fund, private equity and specialist administration space, representing some $5 bn.
The firm commenced operations in 2002 and subsequently took up hedge fund administration in May 2003 in a joint venture with the then Bank of Bermuda. When HSBC took over the Bank of Bermuda the relationship continued until 2005 when IDS severed the relationship with HSBC and commenced providing hedge fund administration to the South African market.
At this time a certain amount of infrastructural capacity had been built up and the hedge fund industry in South Africa began expanding and requiring outsourced administration. IDS felt that they were ideally placed to take advantage of this expansion and have used this base to grow with the market.
Tony Christien, Client Relationship Manager for South Africa, explains that IDS has enjoyed further growth since then. "Between then and now IDS has expanded its sphere of operations to include an office in Malta, where we are a licensed administrator, a representative office in London and administrative capabilities in Mauritius. We currently administer 18 funds out of Malta and are looking to expand into the European market" he says.
IDS's principal client base comprises single and fund of fund managers in the hedge fund, privat...................... To view our full article Click here
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