Mourant retains funds market leader position

17/10/2005

Mourant has again been recognised as a dominant force in fund administration and legal services by Fitzrovia, Reuters’ independent fund research company.

Following the recent opening of new offices in Cayman and New York to complement existing operations in Luxembourg, London, Jersey and Guernsey, Mourant has this year seen assets under administration grow by 65% from US$46 billion to some US$70 billion. In the Channel Islands alone, Fitzrovia ranked Mourant as the largest administrator of all funds serviced in Jersey and Guernsey with market share by assets expanding from 30% to 35%.

Mourant also remains the top Jersey legal adviser by a large margin, retaining its number one position as adviser to funds serviced in Jersey with market share by assets increasing from 51% to 57%.

In the sub-category of Jersey-domiciled funds, Mourant has again demonstrated its dominance by retaining its number one position in both legal and administration services.

Cyman Davies, head of the funds legal team said: "The results confirm Mourant’s leadership in this growing but highly competitive market. The combination of a very strong funds legal practice with an excellent team of people in fund administration is winning us business from new and existing clients. This result is a credit to the determination and professionalism of our team. We now want to capitalise on our strong position in Jersey to grow our new funds legal practices in Cayman and Guernsey."

Rob Short, head of global business development, added: "It is very rewarding to see our achievements confirmed in this way by Fitzrovia’s research. We are delighted to be working with some of the leading fund clients in the industry, many of whom take advantage of our ability to service them from multiple jurisdictions. We have worked hard to capitalise on the ever-improving regulatory framework for funds in the jurisdictions we work in, and this effort by all the team has been paid back with the confidence of our clients."