Mainstream posts growth in FuA

Fund administrator, Mainstream Group Holdings, has posted an 11 per cent growth in funds under administration (FuA), on prior quarter, to $15.6 billion, driven by a strong organic growth across the Asia-Pacific region.

The US businesses saw FuA reach $163 billion which represented a year-on-year growth of 23 per cent.

At the same time, the firm saw its funds numbers grow to 959, up four per cent on the previous quarter.

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“We have successfully developed new client relationships and continue to have a strong pipeline of new business opportunities,” Mainstream’s chief executive, Martin Smith, said.

The company said the growth was driven mainly by the three factors:

  • Market movement and net inflows from existing clients of $9.2 billion;
  • Transition of $5.1 billion from competitors during the quarter; and
  • The launch of 38 new funds, seeded with $1.3 billion including 10 additional US private equity funds.

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