SMP Partners has completed a merger of its fund administration business with Chamberlain Fund Services Ltd.

The transaction finalised on 3 June, sees the combined business trading under the SMP Fund Services banner.

Chairman of SMP Partners Steve McGowan described the move as a significant step in the development of the firm's fund business, which was earmarked for expansion after a management buy out of the group in 2007.

He said the merger would enhance the firm's credentials and service offering and comes at a time of increasing client activity and new enquiries.

Chamberlain was set up in 2004 administering funds investing in securities, derivatives and private equity portfolios to a global market.

Directors Keith Corkill and Liz Tansell said the merger had created a leading provider of professional services in the Isle of Man and further commented: "SMP have been professional and sensitive to the needs of the clients and employees of Chamberlain."