Mereor Absolute Return Fund, which focuses on merger and credit arbitrage strategies, has selected GlobeOp Financial Services as its full-service fund administration provider. The fund is advised by Mereor Investment Management and Advisory SAS, a Paris-based investment management firm, and is scheduled to launch in January 2010.
Mereor founding partner, Georges Gedeon, commented: “In today’s highly volatile climate, transparency, independent portfolio valuation and timely reporting are of paramount concern to fund managers and their investors. With GlobeOp we can offer our investors advanced web-based performance reporting and investment information to supplement more traditional regular reporting channels. Mereor’s combination of merger arbitrage and credit strategies – which we believe represents a unique investment approach – requires stable middle- and back-office support for a broad product set, integrated daily reporting and future growth. GlobeOp’s recognised ability to understand the unique nuances of merger arbitrage and credit strategies was a determining factor in selecting them as our administrator.”
Mereor’s co-founding partner, Jean-Luc Biamonti, added that GlobeOp’s full service capabilities offer a significant advantage.”It is very important that our fund administrator is able to support us with an integrated middle-office, fund accounting and investor relations service. GlobeOp has shown a true understanding of our business model, our trading strategies and the scale and flexibility necessary to accommodate our growth. Their independence and operational strength is further supported by SAS 70 Type II certification. GlobeOp’s reporting capability and system openness is impressive and anticipates our investor needs.”
“As fund managers identify new investment opportunities in the evolving financial market, there is also a strengthened requirement for an integrated operational, risk and investor reporting infrastructure,” said Vernon Barback, GlobeOp president and chief operating officer. “We look forward to supporting Mereor with the flexible services and robust infrastructure its strategy and investors require.”
D.C.