Marlborough Group gets £5.5bn ACD mandate from Evenlode
The trio of strategies, with more than £5.5bn in assets under management, comprises the Evenlode Income, Evenlode Global Income and Evenlode Global Equity.
The trio of strategies, which hold over £5.5bn in assets under management, comprises the Evenlode Income, Evenlode Global Income and Evenlode Global Equity.
Under the agreement, IFSL would also take on fund administration responsibilities for the funds, with the new charges set to take place from March 2024, subject to approval from the Financial Conduct Authority.
The ACD mandate was previously with Waystone Group, which recently completed the acquisition of Link Fund Solutions. Evenlode confirmed to Investment Week that it had terminated the ACD contract with Waystone.
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David Hopkins, head of operations at Evenlode, said: «In common with other fund groups, we conduct regular reviews of our service providers and, as part of our due diligence, we research the services offered by alternative providers.
»Having undertaken this process, and following careful consideration, we have taken the view that IFSL is strongly positioned to act as ACD for Evenlode Income, Evenlode Global Income and Evenlode Global Equity, as we continue with our long-term growth strategy. We are looking forward to a long and successful partnership with IFSL."
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Allan Hamer, CEO of IFSL, added: «The ACD is the independent steward overseeing how a fund is run and helping to protect the best interests of investors. This is an important role and we are delighted that Evenlode have chosen us to take on responsibility for their funds.
»Evenlode are a highly
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