Latest Acquisition Adds To PraxisIFM's Fund Administration Offering

Guernsey-based independent financial services group, PraxisIFM, has expanded its fund administration division with the acquisition of London-based closed-ended fund administrator, Cavendish Administration Limited.

The acquisition means that PraxisIFM will be able to offer administration services for onshore as well as offshore investment trusts giving clients additional flexibility. It follows last month's announcement of the Group's intention to acquire Confiance Limited and the expansion of its pension division Trireme Pension Services, with the acquisition of Confiance Pension Services.

Chris Gambrell, Managing Director of Praxis Fund Holdings Limited, said the acquisition would meet demand from clients.