Evenlode is set to appoint Marlborough Group’s Investment Fund Services (IFSL) as authorised corporate director (ACD) for its three UK-domiciled funds.
Evenlode Income, Evenlode Global Income and Evenlode Global Equity have more than £5.5bn of assets under management between them.
IFSL would also take on fund administration responsibilities for the trio from March 2024, subject to FCA approval.
As ACD, IFSL will have ultimate responsibility for compliance with FCA rules and must ensure the funds are managed in the best interests of investors.
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’re looking forward to a long and successful partnership with IFSL.”
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’re delighted that Evenlode have chosen us to take on responsibility for their funds.
“Evenlode are a highly respected name in the investment world and they share the Marlborough Group’s all-important ‘can do’ culture, along with our commitment to achieving strong growth and delivering first-class outcomes for fund investors.