Mainspring receives retail permissions

Mainspring Fund Services is pleased to announce the addition of retail permissions to its FCA authorised status.

Mainspring offers custody and nominee services to managed portfolio structures and fund administration to venture capital and private equity managers.

Mainspring’s custody and nominee service is primarily targeted at EIS, SEIS and IHT fund managers. Mainspring has several notable EIS fund manager clients that have seen substantial growth in the last 3 years, and supports emerging managers to start and build their funds.

The decision to add retail permissions comes in response to the growing industry which is looking for alternative custody solutions for both retail and professional investors. The new permissions will allow more flexibility in the provision of custody services to EIS managers.

Stephen Geddes, CEO commented: “This is exciting news for Mainspring. We understand this market well and identified an alternative custody structure that enables us to provide a direct service to retail investors where required by our fund manager clients.”

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