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Moore secures significant funds business in Japan to round off 2008

Moore, a Jersey-based specialist provider of fund management, fund administration and corporate services, has had a substantial increase in business from Japanese clients since opening

Moore, a Jersey-based specialist provider of fund management, fund administration and corporate services, has had a substantial increase in business from Japanese clients since opening its office in Tokyo, according to founder and chief executive Ian Moore.

Since Moore opened in Tokyo less than 18 months ago, a further three Japanese staff have been recruited to manage the growing levels of business alongside representative director, Shinobu Miyata, who heads the Tokyo team.

In the last quarter of 2008, Moore closed two fund deals in Japan involving assets of USD400m for funds promoted by two major financial groups. The company is providing administration and management services to the funds through its offices in Jersey and Bermuda.

As a sign of its commitment to the Japanese market, Moore has extended its sponsorship of the London Symphony Orchestra for its recent concert in Tokyo in December.

Moore, the only non-Japanese firm involved in the sponsorship of the LSO in Tokyo, also undertakes corporate entertainment at the Barbican in London as part of the sponsorship deal.

Moore says: ‘Our continued sponsorship of the LSO  has greatly assisted us in building a presence in Tokyo. By opening an office, we have been able to transport our home grown expertise as fund specialists, particularly in the field of private equity, to the Japanese market.

‘We were particularly pleased to participate in the closing of one private equity and one unit trust fund, which have raised more than USD400m, during this difficult global climate for financial services.’

However, Moore cautions that the first half of 2009 will be a quieter time for the funds sector as investors and promoters absorb and take stock of the implications of valuations and audits in the end of year reporting season for the industry.

Moore is a manager and administrator of offshore funds and special purpose investment vehicles, administering or managing funds with total assets exceeding USD14bn, including around USD4bn in private equity funds. 

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