Marlborough Group gets £5.5bn ACD mandate from Evenlode

Waystone contract terminated

Evenlode and Marlborough Group have signed a letter of intent to appoint Marlborough’s Investment Fund Services (IFSL), as the authorised corporate director for Evenlode’s three UK-domiciled funds.

The trio of strategies, which hold over £5.5bn in assets under management, comprises the Evenlode Income, Evenlode Global Income and Evenlode Global Equity. Under the agreement, IFSL would also take on fund administration responsibilities for the funds, with the new charges set to take place from March 2024, subject to approval from the Financial Conduct Authority. The ACD mandate was previously with Waystone Group, which recently completed the acquisition of Link Fund Solutions. Evenlode confirmed to Investment Week that it had terminated the ACD contract with Waystone. Evenlode G...