Typically in the administration industry the fastest growing companies are the smaller ones that may occupy a specific niche or are bringing in several new clients which alone increase assets exponentially. Sometimes a larger administrator will make the lists by grabbing market share. The results of top ten fastest growing hedge fund and fund of funds administrators in Q1 2008 show a healthy mix of both.

On the hedge fund administration side, Kingsway Taitz showed the largest increase in AUA rising 422% quarter over quarter. The Sydney, Australia based administrator, with offices in Charlotte, NC and The Netherlands reported total HF AUA of $1.4 billion in 23 funds. Other smaller administrators showing high asset growth in Q1 2008 include Nottingham Investment Administration based in North Carolina which grew 60% in Q1 to $800 million in AUA in funds based primarily in the U.S., but also in Asia.

There were several larger administrators growing fast enough in Q1 2008 to be ranked among the fastest growing including Equity Fund Services, Citadel Solutions, Northern Trust and Trident Trust. Growth is especially impressive at both Citadel Solutions and Northern Trust as both administrators were among the ten fastest growers in the Q3 2007 HFN survey as well.

Citadel Solutions, an affiliate of Chicago based Citadel Investment Group LLC, reported 13.5% growth in Q3 2007 and followed up in Q1 2008 by reporting an additional 62.0% growth as HF AUA reached $25 billion. Northern Trust was the 3 rd fastest growing HF administrator in Q3 2007 at a pace of 28.6% and for this survey continued to display solid gains in market share. In Q1 2008 Northern Trust grew AUA 53.7% to $33 billion vaulting them solidly into the Top 20 largest HF administrators.

Citadel Solutions has also been diligently growing their fund of funds administration business and ranked as the fastest growing FOF administrator in Q1 2008. Citadel grew FoF AUA 113.8% in Q1 2008 to $1.4 billion. JPMorgan Hedge Fund Services was ranked second for growth among FoF administrators growing AUA 77.9% in Q1 2008 to $35 billion. The gain left JPMorgan just outside of the top ten in assets for all FoF administrators in the survey at 11 th overall. Banque Privee Edmond de Rothschild Europe rounds out the top three fastest growing FoF administrators with AUA increasing 62.3% in Q1 to $22 billion. Besides Citadel Solutions, Trident Trust was the only administrator to be among the fastest growing HF and FoF administrators in Q1 2008 growing FoF AUA by 60.0% in Q1 to $1.6 billion.