HSBC Securities Services (Guernsey) Limited (HSSG) is pleased to announce that their recent bid to provide a full range of fund administration services for the Phaunos Fund has been successful.

HSSG has been chosen by FourWinds Capital Management – a boutique investment company – to provide fund administration services for the Phaunos Fund.

FourWinds approached HSSG in 2008 and the Group distinguished themselves from the competition with their excellent service and unique global affiliation, which provides a strong international capability on the rest of their product range. After an initial transition period, the fund is now being formally administered by HSSG.

Brenda Petsche, Managing Director at HSSG, said: "Our appointment is further evidence of our exceptional capabilities in providing fund administration services to alternative investment funds. HSSG have developed a strong niche in the alternative fund market place through strong customer service and intimate industry knowledge combined with strong technology platforms."

The Phaunos Fund is a Guernsey closed ended investment fund of approximately US$550m listed on both the London Stock Exchange and the Channel Islands Stock Exchange and it is based on timberland and timber-related investments that follow sustainable forestry practices.

Peter Niven, Chief Executive at Guernsey Finance, said: "Guernsey's reputation as a leading international finance centre means that we continue to attract some very high quality fund business and this mandate reflects the expertise of both the Island and HSSG in being able to administer some of the more complex and diverse asset classes."

Debra Wilson, Head of Sales and CRM, concluded by saying: "HSSG is one of the largest providers of administration and custody services to the alternative funds industry. We have a deep understanding of the industry: fund structures, strategies and instruments; jurisdictions; regulations; and the complex requirements of our clients. We have experienced, client-focused professionals with specialist knowledge and not only does this drive us in the international market place but it also distinguishes us from our competitors and is what makes us so successful."

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