Mainstream renews boutique fund administration mandate

Global fund administrator Mainstream Fund Services has renewed one of its long-standing mandates, allowing the firm to deliver fund administration services to an Australian boutique manager.

Following a comprehensive review of operations, Mainstream was reappointed by boutique investment manager Ubique Asset Management for a period of five years.

Under the arrangement, Mainstream will provide fund administration and registry services to the Ubique Australian Share Fund Trust and its related investment mandates with a current combined funds under management of $2.3 billion.

"Mainstream has supported our fund and mandates since our start-up phase in 2012 and has been incredibly responsive to our needs as we recently surpassed $2 billion in funds under management," Ubique managing director and portfolio manager John Harbot said.

"We assessed that Mainstream is well placed to meet our administration needs now and into the future."

Mainstream Group Holdings chief executive officer Martin Smith said: "Since our listing we have found a sweet spot supporting $1-3 billion fund managers looking for agile solutions to compete with larger established managers in the market."

"This re-appointment demonstrates the strength and expertise of our fund services solution which allows our clients to gain access to our robust and scalable solutions so they can focus on their investment approach," Smith said.

Ubique focuses on managing Australian equity portfolios and unit trusts on behalf of wholesale investors. The company was founded in 2011 by John Harbot and Martin Kleindyk. Prior to its establishment Harbot worked at Perpetual Investments where he managed more than $2 billion in the first quartile performing Australian Share Fund strategy. Kleindyk joined Ubique from Argo.

Custodian for the Ubique Australian Share Fund is J.P. Morgan Chase Bank.

As at September 2017, Mainstream provided administration services to 719 funds globally with assets in excess of A$123 billion, supporting more than 105,000 investors and employing more than 217 people.

Read more: UbiqueInvestmentJohn HarbotMainstream Fund ServicesFunds managementMartin KleindykUbique Asset Management
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