Mereor Absolute Return Fund, which focuses on merger and credit arbitrage strategies, has selected GlobeOP Financial Services as its full-service fund administration provider. Paris-based Mereor Investment Management and Advisory SAS (Mereor), advises the fund which is scheduled to launch in January 2010.

"In today's highly volatile climate, transparency, independent portfolio valuation and timely reporting are of paramount concern to fund managers and their investors," stated Georges Gedeon, Mereor founding partner, in the release. "With GlobeOp we can offer our investors advanced Web-based performance reporting and investment information to supplement more traditional regular reporting channels," Gedeon explained. Mereor's combination of merger arbitrage and credit strategies, which he termed a unique investment approach, "requires stable middle-and back-office support for a broad product set, integrated daily reporting and future growth," he continued. "GlobeOp's recognized ability to understand the unique nuances of merger arbitrage and credit strategies was a determining factor in selecting them as our administrator," he stated.

According to Mereror's cofounder Jean-Luc Biamonti, GlobeOp's full-service support was an advantage. "It is very important that our fund administrator is able to support us with an integrated middle-office, fund accounting and investor relations service." GlobeOp has shown a true understanding of our business model, trading strategies and had the scale and flexibility to accommodate our growth," stated Biamonti. GlobeOp's independence and operational strength supported by SAS 70 Type II certification were factors in Mereor's decision, Biamonti related in the release.