Downing Active Management Fund has awarded a mandate to Phoenix Fund Services. Phoenix will provide the ACD, fund accounting and transfer agency services for the specialist fund. Downing will also install Phoenix’s proprietary front office system, AFOS. The Downing fund, which invests in smaller quoted U.K. companies with market capitalizations of under £150 million, will use a proactive private equity investment approach.

Click here for the release from Phoenix Fund Services.