Jersey's Capita Trust Appointed Custodian Of Manx Funds
by Jason Gorringe, Lowtax.net, London
23 July, 2015
Capita Trust Company (Jersey) Limited, part of the Capita Asset Services Division, has been appointed to act as Fiduciary Custodian to two Isle of Man authorized collective investment schemes.
The CMI High Income Fund Plc and the CMI Sterling Roll-Up Fund Plc are both managed by Capital International Fund Managers Limited and are the highest form of regulated funds in the IOM, equivalent to UCITS funds.
The appointment of Capita follows the acquisition of CMI Fund Managers (IOM) Limited by Capital International Group and its change of name to Capital International Fund Managers Limited. The two funds are expected to change their names to the Capital International High Income Fund plc and the Capital International Sterling Roll-Up Fund plc later in the year.
Paul Horton, Head of Fund Custody Solutions at Capita Asset Services Jersey, said: "We are delighted to secure these appointments and to be able to support Capital International Group in its recent successful acquisition and in the continuing operation of the Funds."
"These appointments increase our exposure in the Isle of Man and highlight our capabilities in being able to service clients operating in different jurisdictions."
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