Maitland, the international wealth and fund services firm, reached a record R1 trillion of assets under administration (AUA) at the end of August. This figure has doubled in the past two years.
Commenting on the growth, Andre Le Roux, Head of Business Development at Maitland, said: “The international trend is to outsource fund administration as investors and regulators increasingly demand independent oversight of client investments.
“The global financial crisis, as well as recent scandals in the banking and financial services sectors, are causing investors and regulators to apply increasing scrutiny around control processes in order to protect investors. They want to see the valuation and reporting of assets separated out from the investment process in the interests of good governance.”
Maitland’s fund services business conducts independent outsourced fund administration for 85 fund manager clients both locally and internationally. Client funds range from traditional to alternative, with trading strategies across multiple developed, emerging and frontier markets.
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