New Fund Administrator Portal Sets $1Billion Target

New fund administrator Portal is a joint venture by Isle of Man based Boston, a privately owned family office, and Thomas Miller Holdings. It has set a target of achieving $1 billion under administration and has already amassed $500 million since the company's launch in April.

Portal aims to provide a customised service to asset managers and funds that want to focus on their core investment capability and outsource the administrative and operational aspects of their fund. Over time the company plans significant expansion.

'Security And Confidentiality'

Its parents say they 'share the same ethos' of providing an essentially client driven service. They describe the Isle of Man as 'the finest, most innovative and best regulated offshore location that can provide an exceptional combination of security and confidentiality, together with a favourable tax regime.' The Island's 'AAA' sovereign