Jersey-headquartered Bedell Trust has received regulatory approval to provide depositary services from its London and Jersey offices.

Jersey-headquartered Bedell Trust received regulatory approval to provide depositary services from its London and Jersey offices.

Bedell Trust said in a statement that it had received a variation of permission from the Financial Conduct Authority to provide depositary services to UK alternative investment funds as well as "depositary-lite" services to non-European AIFs from its London office.

The firm has also received regulatory approval from the Jersey Financial Services Commission to provide depositary services from its Jersey office to all JFSC regulatory categories of investment funds.

Bedell Trust said it is now able to provide full depositary services covering cash-flow monitoring and safekeeping. It will also be able to provide oversight responsibility to unregulated collective investment undertakings - specifically closed-ended AIFs of alternative investment fund managers pursuing private equity, real estate, infrastructure, and fund of funds investment strategies.

The firm has been developing its depositary services for some time, director Philip Bolton said. Its underlying services adhere to AIFMD regulations and are operated by a transparent technology solution.