New York (HedgeCo.net) – Charter Group which teamed up with Brian Taitz in September 2010 to launch a hedge fund administration firm, Charter Group Fund Administration Ltd has secured its first few clients.
The firm is based in London and focuses primarily on alternative funds managed by boutique fund managers. The first few clients cover a range of strategies including emerging markets, equity long/short and intellectual property.
Taitz previously founded and managed a successful award-winning fund administration operation in Sydney, Australia. In Taitz’s previous firm, clients included Hedge Fund of the Year winners, Best Market Neutral Fund winners, other alternatives including electricity and power hedge funds, as well as established and distinguished long only boutiques.
Taitz says that the UK market is fragmented with larger administrators turning away smaller funds and relying more on their size than their service levels to win clients. This leads to clients having to look to foreign providers to fill the gap and then having to deal with a plethora of issues such as time zones and language or cultural differences.
Taitz says it is re-assuring for a fund manager to know that they can deal directly with the principals of the business whose office is around the corner. “Our clients are not just one of hundreds fighting for management’s attention which may be the case at the larger shops” says Taitz.
The firm also has the distinct technological advantage that all its administrative services are carried out through a single integrated system – investor registry, fund accounting, investing and complex performance fees – reducing risk and leading to greater efficiencies. Taitz says Charter Group has received positive feedback since its launch and is off to a solid start.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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