Mutual Fund Administration
Mutual Funds
Regulated funds have unique requirements and can have significant setup and operating costs. Our series trust structure and service solutions reduce setup time and costs for start-up managers who cannot afford creating their own legal entity and our lower operating costs improve returns for managers converting from legacy providers or launching their own structure.
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Overview
Cutting edge technology and high touch client service is at the core of everything we do. Our team is made up of seasoned fund administration professionals with experience working at large, medium and small fund administration firms. Our proprietary cloud-based platform, Seamless, along with our processes and procedures were all designed to eliminate inefficiencies and provide a high level of client service. We continually gather feedback and requests for enhancements from our clients and our staff and have a team of developers to address any new requirements.
Robust regulatory and portfolio compliance services inclusive of filings along with call center and capability to support 1000's of investors and their transactions is a foundational requirement for regulated mutual funds and we have designed our services team and platform to address these requirements and volumes. Many of our competitors service only mutual funds or only alternative funds and those that service both typically have separate disparate platforms and servicing teams for each that create inefficiencies and challenges for clients who manage both fund types. We have designed our platform, Seamless to support all fund types allowing our clients to run reports with the same look, feel and data points across their various fund types.
Features
SOC1/SOC2/SOC3 Audits
Audits covers professional services, operations and Technology
Transfer Agent
We are a regulated transfer agent familiar with investor needs
Automated AML/KYC
Capital activity, AML/KYC checks, investor requests, allocate p&l and fees daily
Exceptional Service
Exceptional service from experienced and knowledgeable staff
Treasury
Maintain bank accounts, create expense budgets and pay fund expenses
Distribution
Work with top distributors to assist our clients marketing and distribution plans
Reporting
Preparation and filing of performance, treasury and board reports
Compliance
Blue sky reporting and filing, liquidity and other regulatory tracking, investor AML/KYC
Competitive Pricing
Straightforward and highly competitive pricing
Web Delivery
White labeled portal for investors with fund/client branding
Clients
Technology to support all fund types including high volume trading
Secure
Two factor authentication and cloud based secure online platform.
Services
Mutual Fund Administration
- Facilitate launch or conversion with legal, other service providers and the board
- Prepare and coordinate board meeting materials, minutes and follow ups
- Assist with regulatory queries and inspections
- Post trade and RIC compliance, portfolio monitoring and regulatory reporting (40 Act, IRS)
- Maintain expense budgets and compliance reporting calendars
- Prepare and submit EDGAR filings and financial statements
Fund Accounting
- Daily NAV reporting to NASDAQ, Lipper, Morningstar etc
- Management, 12B-1 and all other expense accruals
- Reconcile trades, positions and cash balances each day
- Corporate action accruals and processing
- Calculate income, capital gain, dividend and other distributions
- Coordinate and assist with annual audits
Transfer Agency
- Registered transfer agent and record keeper
- NSCC Fund/Serv and DTCC connectivity
- 12b-1, loads and commission calculations and payments
- AML controls and checks for all shareholders
- Maintenance of investor documents and web portal
- Investor statement preparation and distribution
- Address investor queries and information requests via call center
- Act as point of contact for local regulators, directors, and/or corporate secretaries
- User-friendly investor web portal (e-signature/digital onboarding)
Fund Distribution
- Partner with third party distributors / broker-dealers
- Facilitate selling agreements with broker-dealers for funds
- Ensure fund and manager marketing materials comply with FINRA requirements
- Coordinate DTCC and NSCC setups
- Establish revenue share agreements with broker-dealers
- Arrange fund setup on various broker-dealer platforms and supermarkets
Treasury
- Setup and maintenance of funds bank accounts for capital activity, operations
- Transfer balances between funds bank and custodian/prime brokerage accounts
- Expense budgeting, accruals and invoice payments
- Centralized cash payments team
- Maintain security controls and authorization levels for each counterparty or service provider
- Facilitate securities finance transactions
- Optimize margin and collateral balances
- Manage excess cash balances and sweep vehicles.
Audit Support
- Draft financial statements in accordance with GAAP or IFRS
- Define and manage audit timeline with client and auditors
- Liaise and act as main point of contact for auditors
- Preparation of cost rollforwards and other supporting reports
- Generate footnotes and related tables
- Address auditor comments and escalate to client as necessary
- Distribute final financial statement to investors, exchanges, regulators and other parties
Technology Portals
- Dynamic, user-friendly and intuitive web portals for clients and their investors
- Able to securely share fund documentation and client reports with investors
- Option to white label with client branding
- In-house development team customizes to meet client needs
- Built with multiple AWS disaster recovery sites
