Voltaire Advisors

89 Pages·2017·17.92 MB·English

Fund Valuation Risk & Compliance Handbook 1
Voltaire
ADVISORS
Fund Valuation
Risk & Compliance

Handbook

2017
Fund Valuation Risk & Compliance Handbook 3
INTRODUCTION
Voltaire
Welcome to the 2017 edition of the Fund Valuation
& Compliance Handbook. Our objective in creating
this directory of firms providing services to the asset
management industry is to present, in one easily accessible
location, as complete and representative a list of providers in
this space as possible.
As befits our field of expertize, the Handbook Administration & Custody – A fund’s
focuses primarily on the area of valuation and administrator invariably provides fund
compliance with regulations, standards and accounting services, calculates its NAV and
best practice in this area. typically acts as a valuation service provider.
In this respect they fulfil a central role inA the D V I S O RS
It may seem like an esoteric and arcane topic
valuation process.
to some, but the business of fund valuation
is mission critical to the survival and ultimate Audit & Accounting – The majority of funds
success of the industry. Asset managers – are subject to either IFRS or US GAAP
both traditional and alternative – are now accounting standards and are audited
firmly on the radar of global regulators, with annually under these regimes. Audit firms
intense focus on standards of transparency, increasingly offer additional consulting
governance, reporting, liquidity management services relating to valuation and compliance.
and fiduciary duty. This places an operational
Consulting & Due Diligence – There are
burden on funds that many are unprepared for.
also a plethora of specialist firms (including
Fund asset pricing is fundamental to the ourselves) who offer services to funds and
calculation of NAV, investor purchase and fund managers to help them to comply with
redemption prices, manager performance their obligations. The most common of these
reports and subsequent fee income are compliance consultants and those which
calculations, fund market risks and exposures, perform operational due diligence (ODD).
regulatory reporting and audits and many
Legal Services – Lawyers perform a crucial
other key operational functions. It is little
role in the investment fund world, advising
wonder, then, that regulators have focused
on fund structuring and compliance and also
heavily on this. In addition to specific
dealing with any investigation or litigation
requirements for fund pricing (such as the
issues.
1940 Act in the US and Article 19 of AIFMD
in Europe), other regulations and standards Software & Data Vendors – Commercial
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S relating to governance, transparency, vendors also play a crucial role in fund asset
disclosure and control of conflicts of interest pricing. In addition to pricing and market
T also have a major impact on valuation policy data vendors, from where values may be
and procedure. directly sources, there are also model and
analytic providers who supply pricing
N Sound valuation is categorically not just an libraries used in-house.
accounting issue. It encompasses a broad
range of considerations for funds and fund All of these industry segments have a part
E managers, including the organization and to play in the process of fund valuation and
structure of a Board or Governing Body we have attempted to bring as many of them
to fulfil its valuation responsibilities, the into one publication as we can. We hope
T
fund’s offering documentation, operational that the standardization of the listing format
considerations such as staffing and training, will allow the reader to more easily identify
N vendor selection, SLA’s and due diligence exactly what each firm provides.
and client and regulatory reporting. To meet This filtering and search functionality will
these needs fund’s use a wide selection of be even more user friendly when our online
O
service providers and this is where the Fund version comes on stream in the next few
Valuation & Compliance Handbook comes in. weeks, so watch this space!
C
OUR HANDBOOK IS DIVIDED INTO
FIVE SECTIONS:
A D V I S O RS
Valuation Risk Handbook 4 Fund Valuation Risk & Compliance Handbook 5
Fund administrators typically play a central role in fund valuation – both
traditional and alternative. In the course of the duties outsourced to them by
the fund, especially accounting, they often perform the following functions
which contain a valuation component:
• Calculate the Net asset value (“NAV”) which not surprising that they require the likes of
includes the calculation of the fund’s income market data, reference data, corporate actions,
and expense accruals and requires the updated evaluated pricing, indices and credit ratings, to
pricing of securities perform their duties. Insofar as they produce
their own valuations they also require analytics
• Prepare periodic reports to shareholders
and pricing models, and given the vast volumes
• Maintain and file the fund’s accounts, including of data required to be processed, many deploy
reconciliation of holdings with custody and data management software rather than rely on
broker records spreadsheets. This topic is considered in more
detail in the Handbook section devoted to
• Pay fund expenses
Software & Data Vendors.
• Settle fund trading activity
This section contains the details of all the
• Prepare and file reports to regulators leading fund administrators, but also presents
some of the smaller firms who specialize in the
• Calculate the return and other performance
peculiar needs of the likes of alternative asset
measures
managers and private funds.
To achieve these objectives, fund administrators
deploy a combination of internal resources and
external vendors.
As can be deduced from the range of tasks
described, appropriate internal expertise is
a pre-requisite for fund administrators. Staff
with knowledge of investment operations,
accounting, performance measurement
and compliance are required, and fund
administrators typically have a large body of
qualified people to meet their needs.
One notable feature of some of the larger
administrators is the existence of specialist
pricing and valuation teams. These units have
been established to deal with the complexities
of asset pricing and are usually composed
of staff with quantitative skills, adept at
interpreting pricing data or running internal
ADMINISTRATION pricing models.
In addition, fund administrators are heavy
& CUSTODY consumers of external vendor services,
especially data and analytics. Given the
hugely varied investment landscape which
fund administrators have to deal with it is
6 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 7
Founded in 2006, Atlas Fund Services (ATLAS) Back Office Services BNY Mellon offers innovative services Putting Our Solutions to Work for You
is a privately held, global fund service provider • Net Asset Value Calculation for monthly, developed exclusively for alternative Whether you’re executing your investment
that offers specialized institutional level services weekly, daily NAVs investments. We provide a powerful platform decision, servicing your client’s portfolio,
to emerging funds and seasoned mid-sized funds • Preparing portfolio valuations, financial reports, to help clients manage the operations of analyzing and evaluating results or choosing
that have assets over USD 800MM.
customized P&L reports hedge fund, fund of hedge fund, private investments — we deliver the tools to
• Fund Accounting equity and real estate assets. help simplify, streamline and enhance the
Atlas offers a complete range of alternative
investment management, administration and
hedge fund service solutions including fund and • Preparing Annual Financial Statements
The alternative investment sector is rapidly portfolio administrative process. Our goal is to
portfolio accounting, hedge fund administration, • Partnership Accounting
changing. Investors and regulators are design and deliver customized solutions that
private equity and real estate fund administration
• Assist with annual audit
services, fund of fund administration, compliance demanding greater clarity and transparency, meet industry requirements and your priorities.
• Independent Security Pricing Verification
services, risk reporting, investor services, volatile markets are changing your regulatory
(Bloomberg, IDC, Markit)
Registrar/Transfer Agency services, and Family industry requirements and you are facing Seamless Operational Support
Office solutions. • Automated Trade/Position/Transaction increased pressure to become more efficient,
capturing (FTP) By integrating a full range of administrative
all while exploring ways to grow your assets
services, including custody, cash management,
Key Facts about Atlas – your challenges keep evolving. At BNY
accounting and administration, investor
• Full Service Fund Administrator & Registrar/ Investor Relations Services Mellon, we can help you capture your market
services and collateral services, we enable
Transfer Agent for onshore and offshore funds • Maintenance of Shareholder Register opportunities and navigate through change.
alternative investment managers to maintain
• SSAE COMPLIANT: ATLAS is SSAE 16 (SOC 1) • Processing subscriptions, redemption, transfers We have the solutions to allow you to focus on their investment focus while we support fund
Type II Compliant; SSAE audit testing conducted • Handling wire payments and processing of what’s important to you. operations.
by Deloitte since 2009 distribution/dividend payments

• Fund Administrator incubator relations with key • Producing investor statements, contract notes, The BNY Mellon Solution
Supporting Our Clients’ Hedge Funds
synergistic partners and other distributions on behalf of the fund/IM As the world’s leading global investments firm,
We provide an integrated hedge fund services
• Front-to-Back fully integrated accounting • Investor due diligence (KYC), AML checks & we have the global scale, technology, depth of
platform that manages both the middle- and
platform investor compliance services and unique insights to deliver solutions
back-offices of onshore and offshore hedge
• Cost effective turn-key Emerging Manager to help you succeed. Whatever your investment
funds.
platform Compliance services & regulatory support goals, we support your success by helping
Our comprehensive suite of services
• Atlas-ACCESS secure online web reporting you to:
• Dedicated compliance team to manage fund
for Investment Managers & investors streamlines hedge fund operations, minimizes
compliance with regulatory bodies • Maximize operational efficiency and flexibility
administrative costs and helps investment
• Client dedication and attention to detail are
• Statutory filings and monitoring of fund/investor • Reduce the time spent gathering and managers mitigate operational risks. Our hedge
engrained in the company’s core values
compliance with ongoing regulatory reporting organizing data fund services help clients service their financial
• Committed team of professionals with solid such as US FATCA/ UK FATCA/ Form PF / &
• Improve transparency assets throughout the entire investment
backgrounds & industry experience various regional reports such as AIMFD/ LUX
• Strategic office locations currently servicing CSFF/Canadian tax reporting • Manage compliance with regulatory bodies lifecycle by offering:
investment managers in the US, Europe, Brazil • Minimize counterparty risk • Support of a full range of investment
and Latin America in local time zones strategies
• Reduce costs
• Turn-key Cayman Island fund set-up offering for • Customized client reporting

qualifying emerging managers
• Global service model

VMarina Lewin oltaVireoltaire
Mark Catalano
Global Head of Sales for Alternative Investments
Head of Business Development
and US Asset Servicing Sales

Atlas Fund Services (USA) LLC
BNY Mellon Alternative Investment Services
5550 77 Center Drive, Suite 250, Charlotte, NC 28217
101 Barclay Street, New York, NY 10286, USA
t: [phone] / [phone] m: [phone]
t: [phone]
e: [email protected]
e: [email protected]
w: www.atlasfundservices.com
w: www.bnymellon.com
A D V I S O RS A D V I S O RS
8 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 9
Your true partner
to progress
YOUR TRUE PARTNER TO PROGRESS
Circle Partners is a global, independent fund • FATCA / CRS Reporting
administrator with over 15 years of experience • AIFMD Annex IV Reporting
in fund administration, fund set-up and fund
structuring. We offer our services from the
◆ MIDDLE OFFICE SERVICES
world’s major financial jurisdictions to a wide
• Daily corporate action processing
range of investment funds, special purpose
vehicles, companies and foundations. Our • Daily prime broker position, proceeds/cash
clients are asset managers, banks and family and trade reconciliation
offices, based in Europe, North and South • Reconciled T+1 P&L reporting
America and Asia, with funds based in
• Trade and position break reporting
onshore and offshore jurisdictions.
• Ad-hoc trades and position activity reporting

◆ FUND ADMINISTRATION SERVICES
◆ INVESTOR RELATION SERVICES
& REPORTING SERVICES
• Investor transactions processing
Our goal is to ensure that our clients can
solely concentrate on the management of their • Preparation and handling of capital calls
funds’ portfolios, rather than on back-office and distributions
operations. We offer a complete range of fund • Maintenance of the unit/share register
accounting and administration services for
• Cash management
mutual funds, including:
• Eligibility, know your customer (KYC) and
• Maintaining the official books and records
anti-money laundering (AML) checks
• Portfolio pricing and valuation
• Communication with the investment manager,
• Net Asset Value (NAV) calculation at the investors and third parties
required frequency
• Web-enabled reporting to unit/share holders
• Performance fee calculation by using

different equalization methods
◆ CORPORATE AND LEGAL SERVICES
• Various fee (incl. carry) calculations and
We assist clients in navigating through the
payment services
regulatory and legislative environment in
• Equity multiplier and internal rate of return multiple jurisdictions by offering a full range
(IRR) calculation of corporate and legal services. Our local
• Distribution waterfall calculation presence and in-depth local expertise ensures
that clients receive services of the highest
• Expense calculation and payment services
quality. In addition, we can recommend third
• Partnership accounting
party service providers in most jurisdictions.
• Audit assistance
• Incorporation services
• Tailor made reporting
• Legal services
• Tax Reporting
• Domiciliation and management services
Mr. Michel van Zanten – Global Voltaire
t: [phone]
e: [email protected] Circle Partners
Circle Partners is a global, independent fund administrator
Utrechtseweg 31d
Mr. Gerben Oldekamp - Europe providing a comprehensive range of fund administration,
3811 NA Amersfoort
t: [phone]
corporate, legal and reporting services to investment funds.
The Netherlands
e: [email protected]
Ms. Kedi Chang - Americas w: www.circlepartners.com
t: [phone]
t: [email protected]
www.circlepartners.com
CIRCLE6007 adv US EastCoast Report_210x297.indd 1 A D11-05-16 15:24 V I S O RS
10 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 11
Citco Fund Services offers full service fund Back Office Services
administration from 19 strategic centers • Monthly independent portfolio verification
across the Americas, Europe and the Far East.
• Fund accounting and administration
Our global presence reflects our philosophy
to provide administration support wherever • Positions and balances reconciliation
our clients are located. Our staff is dedicated • Daily cash reconciliation
to meeting client expectations and deadlines. • Fee and expense accrual calculations
We focus on building relationships and
• Equalization calculations
mutual trust.
• Monthly financial statements
• Fund and investor P&L allocation
Front Office Services
• Indicative and reconciled RORs and NAVs
• Real-time P&L
• Investment restriction compliance monitoring
• Real-time trade processing
• Assist auditors with annual audit
• Daily position, P&L and activity reporting
• Production of monthly financial statements
• Position monitoring
• Fund and investor P&L allocation
• Post execution trade capture
• Support all incentive fee calculation
• Flexible reporting: summary and detail
methodology
• Global security master
• Review of expenses for payment
• Unique client security master
• Web-enabled reporting for fund managers
• Master order blotter

• Ticket attribution
Investor Relations Services

• Process and review all subscriptions and
Middle Office Services redemptions
• Trade capture
• Open onshore and offshore bank accounts
• Trade, position and cash reconciliations
• Process capital activity
• Administrator to Investment Manager
• Web-enabled reporting for investors
reconciliation
• Disseminate NAV statements to investors
• Trade Affirmation/Confirmation
• Investor verification and KYC
• Collateral Management
• Shareholder registers
• Treasury Management

• Daily independent listed and OTC pricing
Data Warehousing Risk and Reporting
• Flash P&L Services
• Daily reconciled P&L As an extension of our service offering, we
• Risk services – including VaR, stress testing provide multiple ways to support operational,
and scenario analysis regulatory and risk reporting.

Voltaire
Declan Quilligan
Managing Director

Citco Fund Services
Customs House Plaza, Block 6, IFSC, Dublin 1, Ireland
t: [phone]
e: [email protected]
w: www.citco.com
A D V I S O RS
12 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 13
STANDARD
6
0
0
0
S
F
HEDGE FUND
As specialists in Corporate Services, Fund
Services, Private Wealth and Capital Services, SERVICES ARE
Elian has a clear, uncompromising vision: to
continually deliver more value by raising the
bar in administration services.
JUST TOO
We work with multi-national corporations,
financial institutions, high net worth individuals,
family offices and investment funds to
administer companies, partnerships and trusts
domiciled anywhere across the Globe. By
STANDARD.
Delivering proactive services to deliver value to
our clients, we believe that the best can always
be better.
Following the acquisition of SFM Europe
in August 2015 (which remains subject to ELIAN HAS
regulatory approval), Elian has over 650
professionals operating in 16 jurisdictions,
covering all time zones and key financial
centres. Elian are experts in handling large,
demanding and complex engagements. Elian ARRIVED TO
has approximately US$1.5 trillion of assets
under administration.
From technical skills and market understanding
to outstanding client service, we are relentless
RAISE THE BAR
in our pursuit of excellence.
There’s a new name in Hedge Fund Services.
Our approach is simple: raise industry
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standards by challenging standard practice.
Colin MacKay
Of course, you can rely on us to deliver
Group Director, Elian Fund Services the usual range of Hedge Fund Services.
What’s not so usual is our relentless pursuit

of excellence, always raising the bar
t: [phone]
in delivering value.
m: [phone]
w: www.elian.com/fundservices ELIAN.COM/FUNDSERVICES
Regulatory information is detailed on elian.com/legalnotice
A D V I S O RS
14 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 15
Anyone can be a service provider…

Fundadministration is a full-service fund Bill paying and book keeping services are
administration firm dedicated to partnering offered to investment managers to facilitate
their operating company’s accounting and
with our clients to provide accurate, timely
reporting requirements.
and comprehensive accounting services to
the financial services industry.
Our clients represent a diverse mix of
As a leading global hedge fund administrator strategies, styles and sizes, which include:
with offices in New York and clients around • domestic and • commodity pool
the world, our highly professional and off-shore hedge operators
seasoned associates will provide world class funds • family offices
service, transparency and oversight along • fund of funds • managed accounts Who we are Why Fundadministration
with independent data verification. Our
cutting-edge technology is fully automated, • private equity funds • EB-5 funds Founded in 1999, Fundadministration is a premier Many of our clients face challenges and limitations when
flexible and provides a cost effective level of • real estate funds • banks establishing and maintaining in-house administration systems.
fund administrator with a global reach. Our team
reliability that meets the specific needs of our • Fintech funds • brokerage firms By outsourcing key administrative functions to an external
client’s sophisticated investors. • commodity trading of seasoned professionals uses the latest
advisor with an established track record, proven technology
advisors technological advances to provide a range of
and honed processes, our clients can focus on running their
Why Fundadministration? world-class services to the financial industry. businesses and raising capital.
• Knowledgeable in various asset classes Products & Technology
Fundadministration utilizes specialized As your partner, we offer:
• Competitive pricing What we do
industry specific technology, with all the
• Wide range of services customized system components required in a single • Deep knowledge across various asset classes
to fit your needs integrated solution. Trade Reconciliation and Reporting Services • Competitive pricing
• Seamless transitioning
• Automated trade capture • Wide range of customized services
• Prompt and personalized service Features include: • Seamless transitioning
• Customized reporting services
• Pure integration of general ledger
• Accurate and timely reporting • Prompt and personalized attention
• Master-feeder relationship and price updates • Secure web portal
• Seasoned, trained professionals, • Accurate and timely reporting
• Daily, weekly, monthly NAVs
with no turn-over Administration Services • Experienced, trained professionals
• Automated Shareholder Communication
• Independence and transparency • Independence and transparency
• Daily, weekly or monthly NAVs
• Equalization / multi-series performance fees
• State of the art technology • Cutting-edge technology
• Advanced multi-currency reporting • Anti-money laundering (AML)/Foreign Account Tax
What our clients are saying
• Side pocket and cell structures Compliance Act (FACTA) compliance
Fundadministration offers a comprehensive
• Hurdle rate and high water marks • Registrar and transfer agency services
suite of services that streamlines our client’s “We have found the Fundadministration team to be extremely responsive
• Price feeds
operations, minimizes overhead costs and • Fee and returns calculations and hard-working. Their assistance with the partnership's annual audits
• Corporate actions
helps investment managers mitigate
• Partner allocations has been exceptional, saving our firm considerable time and energy. It has
• Fund of fund specific features
operational risks. Our customized services
been a pleasure to work with Fundadministration. We would highly
range from reviewing legal documents, cash • Foreign exchange Additional Support Services
recommend their services to other investment managers. “
management, custody of private securities, • Prime broker and transaction uploads
• Cash management / Escrow
FATCA compliance, financial statement • 6 different inventory methods Oberon Asset Management LLC
preparation, outsourced CFO services to fully • Bookkeeping and bill paying “Professional, responsive and with an attitude that “we are in this
integrated administration. • Financial statements together” makes it easy to recommend Fundadministration. Their rapport
with our investors is outstanding, which can make all the difference. We
• Audit and tax coordination
wholeheartedly encourage those looking to get this end of the business
right, to give them a call.”
Nick Neri CoVntact us: Nick Neri [email protected] ltPrinceton Aalternative Funding ire
Chief Operating Officer
R onkonkoma Office Purchase Office
Fundadministration Inc. 4175 Veterans Memorial Hwy, Suite 204 2900 Westchester Ave, Suite 309
4175 Veterans Memorial Hwy, Suite 204, Ronkonkoma, NY 11779 Ronkonkoma, New York 10577 Purchase. New York 10577
Tel: [phone] | Fax: [phone] Tel: [phone]
t: [phone] ext 105
e: [email protected]
…let us be your service partner
w: www.fundadministration.com
A D V I S O RS
16 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 17
KNOWLEDGE AND EXPERTISE IN THE Working with both U.S. and international
FINANCIAL SERVICES IINDUSTRY: funds, GFAS leverages its extensive experience
and utilizes best technology practices to
Grassi & Co.’s Financial Services Practice is
provide clients with efficient and effective
committed to providing the highest quality
administration services on a daily, weekly,
assurance, accounting, tax and business
quarterly, and/or annual basis.
advisory services, including:
Investment entities we service include:
• Start-Up Services and Structuring
• Hedge funds
• Financial Statement Audits
• Private equity funds
• Investment Performance Reviews
• Broker Dealers
• SSAE 16 Internal Control Reviews Break away from the
• Offshore funds
• Agreed Upon Procedure Reporting
• Venture capital funds
• Tax Planning and Preparation competition.
• Family offices
• Tax Estimates for Investors and Shareholders Break away from the
• Managed accounts
• Assistance with ASC 740 (FIN 48) Issues
• Commodity pools
Our Team assists over 250 clients spanning
competition.
investment entities of all types, including • Fund of funds
investment partnerships, broker dealers and
• Real Estate Investment Trusts
registered investment advisors. We are a
PCAOB registered and inspected firm and
our professionals have the knowledge and ABOUT THE FIRM
insight to help you navigate through the
Grassi & Co. is among the Top 100 largest firms
complexities of the highly regulated
in the U.S. and has a dominant presence in
Financial Services Industry.
the New York Metropolitan area. The Firm’s
Financial Services Practice is headquartered
FUND ADMINISTRATION SERVICES in New York City and has a global presence
through Moore Stephens International, one
Grassi Fund Administration Services, Inc.
of the largest associations of independent
(“GFAS”) provides complete administration
accounting firms in the world.
of all operational fund functions. By partnering
with clients, the GFAS Team assists in building Our Financial Services Team leverages the
profitable and compliant funds as well as Moore Stephens network to offer domestic
takes an active role in the development and international clients with a full suite of
and implementation of processes and accounting, tax and consulting services —
procedures that result in a more efficient providing Big 4 equivalent intellectual
operational structure. capital and quality service that spans the
global market.
Voltaire
Grassi & Co
488 Madison Ave, 21st Floor, New York, NY 10022
t: 212-661-6166
w: www.grassicpas.com
www.grassicpas.com www.grassicpas.com/gfas
A D V I S O RS
www.grassicpas.com www.grassicpas.com/gfas
18 Fund Valuation Risk & Compliance Handbook Fund Valuation Risk & Compliance Handbook 19
HedgeServ is a service-driven global Our growth is driven by deep relationships MUFG’s Investor Services Group seamlessly and develop fund administration solutions to
administrator with unique capabilities. with our satisfied clients, who have successfully brings together a number of leading global meet client needs
Investment managers of all strategies partner outsourced their risk & portfolio management, businesses across the asset servicing • Continual investment in people, technology
spectrum – providing solutions from fund and processes to support our clients
with us to grow, adapt, and elevate their middle office, and back office operations
administration, custody and transfer agency throughout the trade lifecycle
businesses. to HedgeServ without sacrificing quality,
to FX, trustee, depository, securities lending,

efficiency, or controls.
banking services and a broad range of Comprehensive Solutions
Asset managers now compete in a dynamic HedgeServ has set the industry benchmark regulatory solutions.
• Diversified client base of mutual funds, hedge
environment with complex challenges and for client satisfaction by focusing on service funds, fund of funds, private equity, family
operational requirements. Partnering with and continuous investment in technology. Comprehensive Fund Administration office, and real estate across all investment
the right professionals has never been more Our culture is underpinned by the most Never before has so much been expected strategies, asset types, and fund structures
important. experienced client service teams in the during the fund administration process. We utilising MUFG’s comprehensive fund
industry and an unmatched track record of know this because our clients face it first. administration solutions
Fund managers can no longer afford to simply
delivering accurate information to managers From regulatory reporting requirements • Differentiated front, middle, and back office
“check the box” when evaluating a fund and investors. such as AIFMD, Form PF, to staying ahead services driven by a robust and scalable
administrator. The experience, capabilities, of technological and product progression, if technologies platform
and expertise of the fund administrator in the pressure on the managerial bandwidth is
• Flexible and customized reporting capabilities
supporting alternative strategies and products immense, the fund administrator is there to
to meet the ever evolving needs for both
- and not just their AuA - matter most. The share and lighten the load. managers and investors
HedgeServ management team owns an
• Comprehensive regulatory reporting
unparalleled track record of innovating best Why MUFG Investor Services? capabilities including AIFMD, Form PF, CPO-
practice over the past two decades and is Providing fund administration solutions for PQR, EMIR and FATCA (UK & US)
collectively the most experienced, and deepest, over 1,100 funds worldwide, MUFG Investor
• Strong reputation for developing customized
team in the industry. Services recognizes the need for a relationship solutions and servicing the most complex
manager to act as a single point of contact
trading strategies
The talents and commitment of our people for every client. Through our partnership

enable HedgeServ to remain flexible and driven model, we provide comprehensive fund
Industry Leading Platform
responsive to our clients’ increasing needs for administration solutions that suits clients’
high-quality, customized services. specific requirements, underpinned by our • Market leading combination of vendor and
industry leading technology. proprietary technologies to deliver fund
HedgeServ supports all alternative investment administration solutions
Whether converting from an existing
strategies and fund structures from a single, administrator or launching a new fund, MUFG • Common technology infrastructure and
real-time technology platform with SOC 1 will partner with clients throughout the workflow management across our global
certified controls. trade lifecycle, taking ownership and being service centers enabling us to provide more
accountable each step of the way. frequent services, with increased efficiency
Our clients benefit from a collaborative
and consistency
solution, which extends their own capabilities,
Client Centric • Proven experience of successful system
reduces their total costs, and delivers flexibility
integrations, with bidirectional data feeds
and scale to stay ahead of the curve. • Single point of contact throughout the
with clients
partnership
• Leveraging leading third parties, such as
• Relationship manager who works with the
Markit, Broadridge, Advent Geneva, Omgeo
client and a highly accessible, detail-oriented
and Investor Analytics to further expand fully
senior management team to identify and
integrated offerings.
proactively address emerging industry trends
Michael Mannella VKaren Cameron oltaVireoltaire
Manager, Business Development Global Head

HedeServ MUFG Fund Services
1271 Avenue of the Americas, 38th floor, Ormonde House, 12-13 Lower Leeson Street,
New York, New York 10020, USA Dublin 2, Ireland
t: [phone] t: [phone]
e: [email protected] e: [email protected]
w: www.hedgeserv.com w: www.mufg-investorservices.com
A D V I S O RS A D V I S O RS