Fri, Aug 28, 2015
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Asia Pacific Intelligence

Ifina offers global start up alternative traders access to fund structures

Thursday, November 07, 2013

Derek Adler brought 30 years of experience in the City of London, specifically in the derivatives markets and asset management creating portfolios of CTAs and foreign exchange traders to his business Ifina, where he is the founder member and director of business development. His business partner, Sam Bratchie, came from the fund administration world.

Derek Adler

Ifina came from Adler's observation in the late 1990s that a lot of fund administration firms were doing a pretty poor job. "We set up our own business and I was able to allocate $150m on day one from one of my funds and created a platform" he says. Ifina is a multi-jurisdictional group of companies, providing investment fund formation and administration and valuation services for investment funds, domiciled in all of the major offshore centres, including the UK, British Virgin Islands, Cayman, USA, Malta, Switzerland, Austria, Panama and Hong Kong. The firm has assets under administration in excess of $1.8bn, comprising some 160 investment funds with a wide range of asset classes, including equities, fixed income, foreign exchange, derivatives, fund of funds, private equity and real estate.

"We look after individual traders who mostly manage money in alternatives" Adler says. "We act as project manager when someone is looking to set up an offshore fund."

The firm offers effectively an a la carte menu of jurisdictions, structures and service providers. "What's important with fund administration is getting the NAV out on time - it's critical that from day one we provide a daily NAV" Adler says. "Getting transparency is a crucial marketing tool for the manager and makes sense for all concerned."

New clients are recommended to allow Ifina to liaise directly with the appropriate law firm, the project management of the process keeps the cost down. "We'll take on board anything no matter how small down to about a million" Adler says. "But if you want to start a fund with a million we'll do it but to be fair to your investors we advise you don't both unless you think that within 12 months you have a realistic goal of $4-5m or the charges will eat into your business."

With its bent towards derivatives, forex and CTA type managers, strategies which have struggled to perform over recent years, Adler has seen quite a bit of turnover in the sector, although one of their oldest customers has been with them for 14 years. "If a trader sets up a fund and it doesn't work after three to four years from our perspective it's  not a problem" he says. The global financial crisis didn't cause them much trouble either: "We didn't lose many funds" he says and the firm has had no funds of funds which were the worst hit by the crisis.

Recently Ifina has opened an office and taken on its first client in Hong Kong, a US equities with a derivative overlay fund which launched in May with just $1.5m and has increased assets to $4.5m since then. "This is typical of the sort of client we have" Adler says.

"We administer in the Far East from the Far East" Adler explains. Smaller funds of under $10m can open under Ifina's umbrella structures, the Primary Development Fund route in Hong Kong and there is also now a SICAV in Malta.

 
This article was published in Opalesque's Asia Pacific Intelligence our monthly research update on alternative investments in the Asia-Pacific region.
Asia Pacific Intelligence
Asia Pacific Intelligence
Asia Pacific Intelligence
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Commodities - Commodity hedge funds lose most in three years as rout deepens, Funds bet on Shell deal as oil prices plunge[more]

    Commodity hedge funds lose most in three years as rout deepens From Bloomberg.com: Hedge funds betting on commodities lost the most in almost three years in July as the price-rout deepened. Funds lost money for a third month, according to the Newedge Commodity Trading Index, which was re

  2. Investing - Hedge funds suddenly find real money is back in Argentina's debt, Elon Musk buys more SolarCity stock following hedge fund manager short, BlackRock plans to get into rental-home financing[more]

    Hedge funds suddenly find real money is back in Argentina's debt From Bloomberg.com: The real money is back in Argentina. Before the country’s default in July 2014 (its second in 13 years), most long-term investors abandoned its bond market. As they rushed out, Argentina became a favorit

  3. JTC acquires Kleinwort Benson’s fund administration business[more]

    Bailey McCann, Opalesque New York: JTC has completed the acquisition of Kleinwort Benson’s fund administration business, boosting assets under administration (AuA) to $56 billion. Kleinwort Benson is based in the Channel Islands, South Africa. The transaction, which relates to the whole of K

  4. Performance - Hedge funds set to bank millions by short selling during London share slump, The China market chaos has made this hedge fund its most money in 2 years, Odey hedge fund said to surge 9% betting against China, Hedge funds with long-held bearish views on China rack up profits, Hedge funds in U.S. seen curbing damage from August turbulence, Hedge funds collect on their predictions of a fall, How did managed futures do while the Dow was down 1000[more]

    Hedge funds set to bank millions by short selling during London share slump From TheGuardian.com: Hedge funds are set to bank tens of millions of pounds from the slump in share prices in London, having bet almost £18bn that the FTSE 100 would fall. The funds making the bets include Lansd

  5. Opalesque Exclusive: John C Head IV leaves alternative investment firm Gallery Capital, David Harrison joins as co-CIO[more]

    Benedicte Gravrand, Opalesque Geneva for New Managers: John C Head IV, former president and co-founder of Gallery Capital Management, an alternative inv

banner