Daiwa Securities Global Asset Services Ireland has been appointed by Belay Partners London, to provide administration services to its new Cayman domiciled hedge fund, The Belay Master Fund, which is due to launch on the 1 December 2009. 

The fund is a European equity long short hedge fund and will be co-managed by Daoud Zekrya, previously a partner of Marshall Wace where he was jointly responsible for running the Core Fund, and Harry Tyser, who previously ran New Star's Firefly hedge fund. 

The Belay Fund will combine a fundamental strategy run by  Zekrya and a tactical strategy run by  Tyser.

Andrew Wall, chief operating officer at Belay Partners, says: “Having worked with Daiwa previously, I am delighted to continue our long and successful relationship. At Belay we insist on transparency, independence and accountability. In appointing Daiwa, we believe we have a partner who shares our standards and expectations.  From my experience to date, the team at Daiwa has always impressed me with their attention to detail, responsiveness, staff stability and investor relations services.”