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UBS opens Hedge Fund Services office in Dublin

| Media Releases EMEA

The new Hedge Fund Services office in Dublin officially opened on 5 October 2004, providing a comprehensive range of fund administration services for European asset managers. Located in George's Quay in the heart of Dublin's financial district, the office will employ ten people initially, with plans to expand to a team of 30-40 in the near future.

Mark Mannion, a former director of PFPC International Ltd with 14 years' experience in the fund management industry, leads the team. Several European investment managers have already expressed a strong interest in the new operation, which will allow funds to be domiciled in the Cayman Islands or Ireland.

The office will provide a full range of facilities for both onshore and offshore funds, backed up by state-of-the-art global infrastructure and support capabilities. The services include assistance in establishing funds; statutory and administrative procedures; and the processing of all issues, redemptions and transfers.

Our fund services will also be available to clients of the Investment Bank and Wealth Management, allowing them to provide a comprehensive servicing model to fund managers.

The Dublin team will use the latest accounting and shareholder technology including a web-based reporting portal. This gives clients secure online access to fund reports, valuations and other investment information.

Why Dublin?
Dublin is the leading fund administration centre in Europe, with more than USD 200 billion in hedge fund assets being serviced. From its Dublin base, Hedge Fund Services will be able to offer a high quality, professional service to clients across Europe including the UK, within the European time zones. The new office is also well placed to take advantage of the anticipated growth in the onshore and offshore European hedge fund industry.

A leading name
One of the top hedge fund administrators in the world, Hedge Fund Services is part of UBS Fund Services. It administers some 440 funds with assets of over USD 70 billion in the Cayman Islands, where it has been in business for over 30 years.

Contact details:
1 George's Quay Plaza, George's Quay, Dublin 2
Tel. +353 1 436 3600
Fax +353 1 436 3601


London, 6 October 2004
UBS