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Family office joint venture to reach $1 billion in assets

Isle of Man fund administrator Portal, a joint venture between insurance manager Thomas Miller and a multi-family office and wealth management firm based on the island, is reportedly on track to reach $1 billion in assets under management by the end of this year.

Multi-family office Boston Limited is an independent, privately-owned company, which provides a range of bespoke services and business solutions to high net worth individuals and their families. Boston was founded in 2002 as the family office for a wealthy family who wished to coordinate and enhance the management of their affairs.

While Boston continues to look after the founding family's interests, it also offers its family office services to other individuals who may be able to benefit from Boston's unique skills and experience.

The London-based Thomas Miller Group specialises in the management of mutual, captive and other specialist insurance companies. The group has had a significant presence on the Isle of Man since 1988.

Portal, which was launched in April, focuses on real estate and money-market funds as well as funds of hedge funds. The firm offers services including assisting with the establishment of funds, full reporting and accounting services, net asset value calculations, shareholder and registrar services, and compliance and regulatory services.

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