Multifonds Advantage

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Choice of a top ten global custodian

Choice of a top ten global custodian

When a top 10 global custodian's legacy provider ran into financial difficulties, they needed a new transfer agency software partner. After researching the options and seeking proposals from several competitors, in 2004 they chose Multifonds.

As one of the world's top ten global custodians they have fund servicing operations in the US, Ireland, the Chanel Islands, UK and Luxembourg. They support a wide and constantly growing variety of fund structures and investments - a range that includes registered mutual funds, collective investment funds, trust funds, offshore funds, and hedge funds.

Their key requirement was a solution capable of handling them all, with flexibility to adapt to future changes.

Transfer agency is an essential component of their fund administration offering to investment managers and fund companies worldwide. They wanted market leading technology to support those services.

Multifonds' depth of functionality was the differentiator, especially in terms of the flexibility with commissions and fee processing. Multifonds met the requirements of their business and they were happy to form a partnership to deal with upcoming market initiatives at the time, including the European Savings Directive and Irish Act.

The resulting partnership has enabled them to grow their business by servicing an ever widening range of jurisdictions and funds on Multifonds. Major recent initiatives have involved hedge funds, and offering tax capabilities for US investors wanting to invest into European funds including UCITS. The cost saving and operational benefits of having a single platform across UCITS and hedge funds is key to the on-going growth and profitability of their TA line of business.