Industry Updates

Helvetic Fund Administration Ltd acquires Capita Financial Administrators (Gibraltar) Ltd

Monday, March 28, 2011

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Opalesque Industry Update - Helvetic Fund Administration Ltd, Gibraltar’s longest established fund administration company, (the Company or Helvetic) announces that it has completed the migration of the NAV’s (Net Asset Value) with the acquisition of Capita Financial Administrators (Gibraltar) Ltd (or ‘Capita’). The acquisition sees the transfer of Capita Gibraltar staff and over £500 million of assets under administration to Helvetic.

Helvetic Fund Administration has operated in Gibraltar since 1998. As the first fund administration company in Gibraltar, Helvetic was licensed by the Financial Services Commission (FSC) in Gibraltar with the introduction of a licensing regime for the fund administration industry. Helvetic has extensive experience in supporting sophisticated hedge fund structures and investment vehicles. The company focuses on maintaining a close working relationship with clients in order to provide them with services superior in quality, efficiency and responsiveness.

Helvetic’s accounting and administration teams have thorough knowledge of different investment structures and are able to provide comprehensive tailor-made solutions to ensure the type of structure chosen for the client meets their pre-defined requirements. The company ensures that new funds are integrated successfully by being involved in all stages of the process, from initial consultation and set-up to the provision of valuations and all ongoing support necessary to ensure the smooth running of the fund.

As the longest established fund administration company in Gibraltar, Helvetic was uniquely positioned to migrate Capita’s existing operations into its own operation.

During the acquisition, Capita continued to provide outsourced back office functions via Capita Sinclair Henderson Limited, part of the Capita Financial Group, located in Exeter, UK.

Nicola Smith, CEO of Helvetic Fund Administration Ltd explains, “We have now completed the full integration of Capita Financial Administrators (Gibraltar) Ltd into our operations and welcomed new staff members to our company. We are known for our experience, expertise and high service levels in Gibraltar and are pleased that not only have we been able to retain jobs, but we have also accomplished this with zero disruption to clients during the integration process. Adding over £500 million to our assets under administration positions us as clear leaders in our industry in Gibraltar and provides us with a sound basis for the future growth of our business internationally. We are very pleased that we have reached this important milestone.”...Corporate website:Source
-KM

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