One of the biggest such firms in the space - and an Asia award-winner from this publication - reported steady earnings for the first quarter.

[tag\Intertrust">Intertrust, the Netherlands-listed administrative services provider, yesterday reported that its adjusted earnings held steady in the first quarter of this year at €45.3 million ($50.4 million), while revenues rose by 2.1 per cent to €125.3 million.

"We are continuing to expand our funds business and have increased our revenues in capital markets, [and] our strategic growth areas which together represent almost half of our business. We saw revenue growth in the Americas and rest of the world segments, while revenue in Western Europe was in line with the same quarter last year," Stephanie Miller, CEO of Intertrust, said.

Miller said the firm is expanding into Canada, introducing fund services to the UK and has won a licence to provide fund services in Ireland. In the latter case, the move can be seen as a way for the business to retain full European Union access for fund clients as the UK leaves the EU.

Intertrust operates worldwide and last year won the award for best independent trust or fiduciary company, Greater China, from this publication.