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From Precy Dumlao, Opalesque Asia:

New York-based global fund hedge fund service provider Viteos has announced that its assets under administration (AuM) jumped by $1.6bn as of end of Oct 2010, representing a 40% increase in assets since April this year.

The firm’s Director of Business Development in the U.S. Jonathan White commented, “There is a substantial increase in fund managers looking for VITEOS to provide a comprehensive turnkey solution. Our clients find conversations with VITEOS to be refreshing because we focus on understanding their business needs and providing clients with solutions beyond core fund administration services. Our client-centric approach, combined with an industry leading administration platform means we compete with the larger administrators. It’s clear the market is gravitating to ‘quality of service’ vs. ‘quantity of AUA’.”

In a statement, Viteos Executive Vice President Francis Rainsford claimed that the company has also posted positive growth in other portfolios aside from fund administration.

“It’s a misnomer to measure our business solely on fund administration, we have a large presence in middle office outsourcing with over $30 billion in assets being processed on a daily basis. Clients also look to VITEOS for consultative services in implementing technology solutions. Our ability to identify solutions to the challenges the industry faces is creating a unique oppo......................

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