Isle of Man

Mainstream on the Isle of Man

The Isle of Man is a self-governing British Crown dependency which is regarded as a well regulated jurisdiction and an important player in the offshore funds sector.

Our Isle of Man based fund administration office, Galileo Fund Services Limited, has provided high quality and professional administrative services to funds and investment companies since 2004.

As a specialist provider of administrative, corporate secretarial, accounting and valuation services, Galileo  administers assets spread across a wide variety of strategies using a diverse range of investment vehicles including open and closed ended investment companies, special purpose vehicles and unit trusts. These vehicles are incorporated in a number of different jurisdictions.

Investment strategies followed by companies and funds under the administration of Galileo include:

  • Private equity
  • Real estate investment
  • Real estate development
  • Mezzanine finance
  • Activist
  • Exchange traded and emerging market equities
  • Infrastructure (roads, rail)

Galileo is ideally placed to offer you cost effective and professionally delivered local services tailored to your requirements.

Time in Isle of Man:

Douglas, Isle of Man Office

Millennium House
46 Athol Street
Isle of Man
United Kingdom

Google Map of Millennium House, 46 Athol Street, Douglas, Isle of Man, IM1 1JB, United Kingdom

Our Staff

Ian Dungate

Country Manager, Isle of Man

Ian is Country Manager of Mainstream Fund Services, Isle of Man. He began his career in fund administration over 25 years ago at CIBC and Bank of America in the Cayman Islands and Abacus Financial Services in the Isle of Man. In 2005 he moved to Anglo Irish Fund Services and formed part of the management team which undertook a management buyout of the Company, then named Galileo Fund Services Limited, in 2007, before becoming part of the Mainstream group in 2016.

Ian graduated with an honours degree in Accounting and Finance from the University of the West of England and is a Fellow of the Institute of Chartered Accountants in England and Wales (FCA).

Contact Details

+44 (0)1624 692600



Galileo is one of the Island's leading and most successful fund and investment company administrators.

Originally formed in 2004 as a wholly owned subsidiary of Anglo Irish Bank Corporation plc, the management team purchased the business in 2007 and subsequently renamed the company Galileo Fund Services Limited.

In 2016 Galileo became part of the Mainstream group, allowing Mainstream’s clients to benefit from Galileo’s established market position and knowledge, strong operational processes and experienced management team on the Island.

Galileo is licensed by the Isle of Man Financial Services Authority to conduct investment business and as a Corporate Service Provider.

The Company's highly qualified employees provide professional and dedicated service to clients and have a wealth of experience in all aspects of fund and investment administration.

Learn more about Galileo on their website.

Global expertise

Galileo Fund Services is part of Mainstream Group Holdings Limited (ASX: MAI), a listed company specialising in fund services. The Group provides fund and superannuation administration services underpinned by investment in people, processes and technology.

As at June 2018 the Group provides administration services to 815 funds and more than 100,000 investors with assets under administration in excess of AUD $138 billion. Mainstream employs over 245 people, with operations in Australia, Singapore, Hong Kong, the United States, Ireland, the Isle of Man, Malta and the Cayman Islands.

Learn more about Mainstream worldwide.

Reliably proven success by the numbers:
Years Experience
In Funds Outsourced to Mainstream

Local services

Whether you are responsible for the investment management of a single boutique fund, a multitude of funds and classes, or a listed or unlisted investment company, our team can help.

Core services for funds, investment companies and holding companies include:

Fund formation

  • New fund or investment company establishment
  • Legal advisors and service provider liaison
  • Fund or investment company incorporation service

Corporate secretarial

  • Comprehensive corporate secretarial services
  • Preparation and filing of local statutory returns

Administrative services

  • Net Asset Value calculations
  • Liaison with auditors, legal and tax advisors
  • Establishment and operation of bank, custody and prime broker accounts
  • Provision of administrative staff and office space

Shareholder and transfer agency services

  • Maintenance of shareholder or partnership registers
  • Issuing subscription / redemption contract notes and effecting share exchanges / transfers

Accounts preparation

  • Maintenance of full accounting records
  • Preparation and distribution of financial statements

Valuation services

  • Net Asset Value and equalisation calculations
  • Extensive portfolio valuation and financial reporting
  • Trade, price and corporate action data interfaces

Learn more about Galileo on their website.


  • Office opened: 2004
  • Country manager: Richard Bolton
  • Specialities: fund formation, corporate secretarial, administration services (including NAV calculations), shareholder services, accounts preparation, valuation services
Over $138 billion in funds are outsourced to Mainstream: