Karl McEneff, managing director, says: 'In the ever evolving financial world of dynamic change, multiple counterparties, valuation challenges, greater demand for transparency, regulation and higher standards of corporate governance, it is especially pleasing that Daiwa has secured its SAS 70 Type II report. It is imperative that the asset servicing industry continues to uphold the highest standards of care in its risk and control environment which continues on the path to demonstrate a greater comfort for our clients and their investors.

'Daiwa will continue to adhere to the highest standards of service quality and excellence in pushing the boundaries of partnership to the highest level and maintaining the SAS 70 standard.'

Daiwa provides hedge fund administration, trustee, fund accounting, shareholder services and custody to fund promoters from a global client base. It has subsidiaries in Ireland, UK, USA and the Cayman Islands, servicing assets with a total value of USD60bn.