The partnership will allow JTC, a provider of institutional and private client services, to offer independent depositary services to its alternative fund clients.

JTC has partnered with INDOS Financial, a UK-based provider of alternative investment fund managers directive (AIFMD) depositary services.

The partnership means that JTC’s range of private equity, infrastructure, hedge, real estate and other alternative fund clients will have access to a specialist depositary. 

“Managers and investors are increasingly recognising the value of an independent depositary model. By working closely with JTC we have been able to implement an efficient model that minimises the operational impact on the client but at the same time delivers the benefits of independence from the fund administrator,” said Bill Prew, chief executive at INDOS Financial.

“Whilst immediately following the introduction of the AIFMD, managers might have appointed a depositary affiliated to a fund administrator, they are now armed with significantly more practical experience and are actively revisiting their depositary arrangements,” added Stuart Pinnington, group head of institutional client services at JTC.

Established over 25 years ago, JTC has over £47 billion ($70 billion) assets under administration. INDOS Financial provides depositary services to around 50 funds with over $9 billion in assets collectively.