IFP mandates State Street

Jersey’s Independent Fund Platforms has appointed State Street to provide it with administration and custody services to its funds platform.

The Independent Offshore Platform (Jersey) ICC is described as the only independent platform available in Jersey, providing investment managers with a quick, efficient and cost-effective way to launch new funds. State Street adds that it is particularly suitable for managers wishing to re-engineer an existing offshore fund or to replicate an onshore strategy offshore using an already established infrastructure.

Hugh Hunter, director of independent Fund Platforms, cited State Street’s extensive expertise and in-depth knowledge in asset servicing as reasons for the appointment.