Custom House surpasses USD 30 billion in assets under administration

One of the world's largest independent fund administrators, Dublin-based Custom House Administration & Corporate Services Limited, has surpassed USD 30 billion in client assets under administration as of the end of October. This represents a growth rate of close to 45% so far in 2007, building on AuA of USD 20.8 billion at the end of 2006.

'We are proud of our continued growth and truly global footprint, which few administrators can match,' says Dermot Butler, Chairman of Custom House, which was established in 1989 and pioneered Dublin's now burgeoning hedge funds administration business. 'Our growth is also indicative of our reputation for providing top-tier and customized services to our clients based on their needs and specific complexities of their fund offerings.'

The firm revealed that its representative offices in Chicago and Singapore have nearly doubled in size since April and continue to grow with 37 and 31 employees in each office respectively. The Singapore office was launched in January of 2007 and is enjoying rapid growth along with that of the Asian hedge fund industry.  The Dublin headquarters now has 145 employees. Custom House services approximately 325 funds for 120 investment management clients.
 
 'We look forward to continued growth - particularly in the context of daily dealing NAV funds, which now represent over 20% of our client portfolio - and introducing new and innovative solutions for our clients,' says David Blair, Managing Director of Custom House.