LONDON: 22 January 2018
INDOS Financial Limited (“INDOS”), the independent UK depositary, has been appointed as depositary by Manchester and London Investment Trust plc (“MNL”), an investment company with investment trust status that has been listed on the main market of the London Stock Exchange since December 1997.
MNL’s investment objective is to achieve capital appreciation and a reasonable level of income through a policy of actively investing in a diversified portfolio, comprising UK and overseas equities and fixed interest securities. MNL’s market capitalisation as of 18 January 2018 was £114.6 million, and it was ranked by FE Trustnet as the 3rd best performing UK investment trust in 2017 in total return terms.
Bill Prew, CEO of INDOS, said “We are delighted to have been appointed as depositary by MNL. The appointment validates our firm belief that independence of the depositary from other service providers to the fund enhances fund governance. The appointment is another step towards our aim to become a leading depositary to the UK investment trust sector and a genuine alternative to the traditional bundled service model within the industry.”
Brett Miller, Head of Governance at M&L Capital Management Limited, MNL’s Alternative Investment Fund Manager, commented “We selected INDOS because we were looking for an independent depositary that would add value to our business beyond simply enabling us to meet our regulatory obligations. INDOS took a proactive and flexible approach throughout the on-boarding process and we are looking forward to working with the team”.
For more information please contact:
Bill Prew, INDOS Financial Limited +44 (0) 203 319 1590
Simon Rostron, Rostron Parry +44 (0) 7802 292 252
About INDOS Financial
INDOS Financial specialises in providing independent AIFMD depositary services to alternative investment funds. INDOS was the first FCA authorised AIFMD Depositary in January 2014. Clients include EU and non-EU managers managing a broad range of open and closed ended alternative investment fund strategies ranging from hedge funds, to private equity, real estate and other closed ended funds such as UK investment trusts. The firm holds regulatory permissions to undertake both depositary-lite and full depositary business. INDOS’ team of experienced staff utilises its own proprietary DEPOcheckTM system, an integrated workflow management and automated monitoring solution to deliver efficient solutions to its clients. INDOS has been recognised as Best Depositary Solution for two consecutive years in the 2016 and 2017 HFM Service Awards.