Wed, Aug 31, 2016
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. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  2. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  3. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  4. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin

  5. …And Finally - Baby born on Cebu Pacific airplane gets 1 million air miles[more]

    From CNN.com: Here's one kid who'll probably learn to fly before she can crawl. After being born four hours into a flight from Dubai to Manila, baby girl Haven has been gifted 1 million air mile points. Haven's mom went into labor more than five weeks early while flying on an aircraft op