Hedge fund service provider VITEOS recorded a significant growth in assets under administration in 2010, according to figures released today by the firm.
VITEOS assets under administration increased by $4.8 billion, representing a 117% increase over 2009. Driving the growth are fund managers that previously were self-administered, VITEOS says.
The increase in AUA, validates our business model, says Francis Rainsford, executive vice president of VITEOS. Clients are attracted to VITEOS because of the breadth and depth of our offerings, which go beyond what has been traditionally considered fund administration. Our consultative approach to providing services enables VITEOS to tailor solutions around the needs of our clients.