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Thomas Seale, chief executive and chairman of the executive committee, EFA

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European Fund Administration reports 2.5 per cent rise in turnover

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European Fund Administration had a turnover of EUR63m in 2009, a 2.5 per cent rise on 2008, after tax profits amount to EUR5.1m ensuring a return of 38.2 per cent on subscribed capital after tax.

As at 31 December 2009, EFA had EUR83.2bn of assets under administration, held by 2,450 funds on behalf of 226 clients.

The number of clients in 2009 was 13.6 per cent higher than in 2008. Turnover from EFA’s direct clients rose 15 per cent. At the end of 2009, they accounted for 29 per cent of the turnover and 41 per cent of the total number of clients. EFA is now collaborating with 86 custodian banks and eight prime brokers.

Thomas Seale, chief executive and chairman of the executive committee, says: “EFA intends to establish itself as the service provider of choice in view of the reshaping of the investment fund industry that we witness right now, in particular in the alternative investment sector that is being influenced through initiatives like the European Directive on Alternative Investment Fund Managers.”

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