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Deals & People October 28, 2013
Fidelity, CAIS Team in Alt Investment Alliance
About 3,500 wealth management firms that custody at Fidelity will gain access to alternative investment funds, including hedge funds and private equity funds, through a strategic alliance with CAIS.
Reported by Jill Cornfield
Fidelity custodial clients—including registered investment advisers, broker/dealers and other financial intermediaries—will benefit from the elimination of annual custody-related fees for all fund orders executed through CAIS and held at Fidelity. Firms gain an integrated Fidelity-CAIS technology experience with streamlined workflow and above-the-line reporting. According to a statement from CAIS, advisers will be able to access funds at greatly reduced pricing—thousands, rather than millions of dollars.
CAIS allows firms access to a menu of hedge funds and private equity funds, with lower investment minimums. Other features are: independent, third-party due diligence and monitoring on all funds provided by Mercer; portfolio construction and performance analytics tools; electronic trade execution; and fund support and education.
CAIS is an independent marketplace for financial services, providing efficient access and execution to a institutional funds and products.