Bermuda-based corporate finance and consulting firm, Isis Limited, yesterday announced the establishment of a new fund administration company, Isis Fund Services Ltd.

The company will be based in Hamilton and will be applying for a fund administrator's licence from the Bermuda Monetary Authority. Once licensed, the company will aim to provide premium, client-focused fund administration services to investment managers principally domiciled in Bermuda, Cayman and BVI.

Isis Fund Services Ltd. has been established as a joint venture company between Isis Ltd and Mrs. Ede Conyers, who has more than 20 years' experience in the fund administration industry.

The Isis Group works with a number of large international banks and investment managers and acts as a consultant on the establishment of a wide range of complex structured funds in Bermuda and Australia.

Sharon Beesley, one of the founders and executive directors of Isis, said: "We think the timing is excellent and that there is tremendous opportunity for a new niche fund administration business in Bermuda to service investment fund managers looking for flexible, cost effective, tailor made services."

Chief executive officer Audette Exel said combining Ede Conyers and her team's experience and contacts in the industry with the Isis Group's strong reputation in its areas of business expertise, will be a powerful force in the industry filling some of the gaps created as a result of the continuing trend of consolidation over the past few years.