HONG KONG, May 8, 2012 - Vistra Fund Services (VFS) announced today the launch of its Privium Capital Fund product, a Cayman Islands-based umbrella fund structure. The Privium Capital Fund platform enables Vistra Fund Services clients to establish their own segregated portfolio or sub-funds and build fund management expertise located in four major jurisdictions - Hong Kong, Cayman, The Netherlands and the UK. Clients can benefit from a one-stop platform, with administration and related support provided by Vistra from its Hong Kong, Luxembourg or Jersey offices. Fund auditing will be covered by PwC Hong Kong, Cayman Islands and The Netherlands, with legal support provided by the leading offshore law firm Maples and Calder from the Cayman Islands. Banking and custodian arrangements can be specified by clients and are not limited to any one jurisdiction.
The Privium Capital Fund provides a simple and fast solution to the challenge of designing and establishing new fund structures. The streamlined approach allows for rapid fund establishment, with Privium providing support in the areas of marketing, set up and design, compliance and approval, physical office and risk management models. These are of particular relevance to those first time or start-up managers launching their funds.
Vistra Fund Services offers a full range of fund administration services using both the Advent and AIM systems platforms which are generally regarded as the gold standard in the industry. VFS has set up direct links with various prime brokers and custodians to allow for efficient reconciliation and settlement. VFS will also provide a range of other services including net asset value calculations, investor communication and reporting and anti-money laundering compliance checks.
Commenting on the launch, Charles Kwun, Managing Director of Vistra Fund Services Asia said, "The new Privium Capital Fund adds to our range of services and delivers a higher level of flexibility.
It allows clients to have fund and management separately domiciled in a range of locations of their choice, and offers tremendous savings in initial set-up and ongoing costs as well as a short implementation time, which we think will be of particular interest to the Far East and Asian markets. This new flexibility will also help to resolve other logistical factors such as time zone differences, communications and control."
About Vistra Fund Services
Vistra Fund Services ("VFS") is the fund administration and fund formation division of the Vistra Group, a leading global provider of corporate, fund administration, trust and fiduciary services. Vistra has 23 offices in 19 jurisdictions with specialist fund teams based in Jersey, Luxembourg and Hong Kong.
VFS offers a full range of fund administration services with a major focus on alternative investment sectors including hedge funds, real estate, private equity, venture capital and alternative assets.
VFS manages the fund's operations and offers our experience and guidance with regards to the choice of structure, jurisdiction, service provider, working procedures and regulatory matters. At VFS, each fund has a dedicated administration team responsible for the fund and the on-going relationship with the client for the lifecycle of the fund. Our team establish and administer a wide range of funds, and help clients develop bespoke solutions to support their daily fund operations.
As an independent service provider, we are free from the usual conflicts of interest: we do not manage proprietary funds, nor do we provide legal advice, tax advice, banking or investment services. Our role is to provide our clients with 'virtual' middle and back offices and infrastructure, so clients can concentrate on what they do best, managing a fund.
Leveraging on our Group international network, our clients can benefit from a multi-jurisdictional and personal approach
Together, we bring to life the Vistra ethos of "Crossing Borders, Creating Solutions".
For more information, please visit http://www.vistrafundservices.com.
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