London legal firm Addleshaw Goddard has launched a fund management outsourcing team within its technology and outsourcing group, which it sa...

London legal firm Addleshaw Goddard has launched a fund management outsourcing team within its technology and outsourcing group, which it says will be one of the first dedicated such teams in the City of London. The new team, which has already brokered outsourcing deals in the fund management area, comprises a cross-disciplinary team including outsourcing, tax, employment, pensions, financial regulatory and corporate legal experts. The firm points out that fund management outsourcing deals often involve the outsourcing of middle and back office functions including asset administration, settlement of investment transactions and pricing and fund valuation services. Suppliers have generally driven the agenda in relation to such outsourcings, but with the development of more and more complex deals and higher values of funds in scope, customers are taking on bigger risks, not least in terms of regulation, technology and the loss of control of complex processes. The development of the Addleshaw Goddard fund management team has been in response to these issues.