# North of South Capital LLP

> North of South Capital LLP is an SEC-registered investment advisory firm in London, United Kingdom, registered since 2020, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 30, 2026.

- CRD: 300917
- Filed as: NORTH OF SOUTH CAPITAL LLP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: London, United Kingdom
- Filing period: October 2026
- Form ADV filing dated: March 30, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/300917
- AdvisorCensus page: https://advisorcensus.com/firm/north-of-south-capital-llp-london-300917

## Quick answers

**How is North of South Capital LLP compensated?**
On its Form ADV (Item 5.E, October 2026), North of South Capital LLP reports these compensation arrangements: a percentage of assets under its management; performance-based fees.

**How much does North of South Capital LLP charge?**
Its Form ADV Part 2A brochure dated March 30, 2026 states: Asset-based fee: 0.75% to 1.5% a year (a range, as the brochure states it). Fees can differ by service and may be negotiable; the brochure is the complete statement.

**Where is North of South Capital LLP located?**
North of South Capital LLP's principal office is in London, United Kingdom, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is North of South Capital LLP registered with the SEC or a state?**
North of South Capital LLP is an SEC-registered investment advisory firm, registered since 2020. Status as filed: Approved. CRD 300917.

**How much does North of South Capital LLP manage?**
North of South Capital LLP reports $6,696,710,928 in regulatory assets under management in its Form ADV filing dated March 30, 2026 (100% discretionary).

**How have North of South Capital LLP's assets and staff changed since 2021?**
In the Form ADV data for North of South Capital LLP: Regulatory assets under management: $585,102,840 in the October 2021 data and $6,696,710,928 in the October 2026 data, up 1045%. Total employees: 7 in October 2021 and 14 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does North of South Capital LLP serve?**
By number of clients on Form ADV Item 5.D: pension and profit sharing plans (but not the plan participants or government pension plans) (11); pooled investment vehicles (other than investment companies and business development companies) (6); investment companies (1).

**Which custodians does North of South Capital LLP use?**
North of South Capital LLP's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists State Street Bank and Trust Company, The Bank of New York Mellon Company and The Northern Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does North of South Capital LLP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/300917

**What changed in North of South Capital LLP's recent Form ADV filings?**
In the April 2026 filing data: Added an office in Dubai.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Fees and minimums (Form ADV Part 2A brochure dated March 30, 2026)

- Asset-based fee: 0.75% to 1.5% a year (a range, as the brochure states it)

> The fee we receive is accrued daily based on the daily NAV and is paid monthly to us in arrears as a monthly pro rata share of the annualized management fee of between 0.75% and 1.50%.

As stated in the firm's brochure. Fees can differ by service and may be negotiable.

### Custodians (Schedule D, Section 5.K(3))
- State Street Bank and Trust Company
- The Bank of New York Mellon Company
- The Northern Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $6,696,710,928
- Discretionary: $6,696,710,928
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | Not reported |
| High net worth individuals | 0 | Not reported |
| Banking or thrift institutions | 0 | Not reported |
| Investment companies | 1 | $74,368,127 |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 6 | $4,688,746,171 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 11 | $1,933,596,630 |
| Charitable organizations | 0 | Not reported |
| State or municipal government entities (including government pension plans) | 0 | Not reported |
| Other investment advisers | 0 | Not reported |
| Insurance companies | 0 | Not reported |
| Sovereign wealth funds and foreign official institutions | 0 | Not reported |
| Corporations or other businesses not listed above | 0 | Not reported |

### Advisory services (Item 5.G)
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Other

### Firm details
- Registered since: 2020 (5 years)
- Employees: 14 total, 8 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Dubai

### Websites listed on Form ADV (Item 1.I)
- [northofsouth.com](https://northofsouth.com)
- LinkedIn @north-of-south-capital

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $585,102,840 | 7 | March 17, 2021 |
| October 2022 | $891,796,767 | 7 | March 29, 2022 |
| October 2023 | $1,028,447,571 | 10 | June 8, 2023 |
| October 2024 | $1,679,872,315 | 12 | July 8, 2024 |
| October 2025 | $3,882,947,510 | 14 | March 28, 2025 |
| October 2026 | $6,696,710,928 | 14 | March 30, 2026 |

Regulatory assets under management: $585,102,840 in the October 2021 data and $6,696,710,928 in the October 2026 data, up 1045%.
Total employees: 7 in October 2021 and 14 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Added an office in Dubai.

### January 2026
- Regulatory assets under management went from $3,882,947,510 to $6,122,761,016 (+58%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. North of South Capital LLP (CRD 300917): Form ADV filing data as of October 2026.