Fund administration is Ocorian's core business. With more than 30 years of experience in the sector, we know how to construct robust architecture that enables smooth fund administration – and allows you to get on with your job.
We've identified five pillars that you should consider when assessing potential new fund service providers.
What are the five key things to consider when assessing a new fund administrator?
1. A golden source of information
One source of information contained within the same system/technology stack reduces errors and streamlines processes. A single source makes it easier for you to operate funds across jurisdictions. The uniformity of processes provided by a single source means the fund administrator can be more reactive to your needs.
2. Breadth of services
A single source of information is all the more valuable if the fund administrator can provide all the services that you might need. As the market becomes more complex, fund managers increasingly need to access services such as SPV services, AIFM, depositary and compliance support. The ability to receive all of those services from one provider with the data in one source enables the kinds of detailed analytics that support you in your job and drive efficiency. Over 68% of respondents in our survey said that would prefer to use one supplier to cover a breadth of services than use multiple, separate suppliers.
3. Cross-jurisdictional capabilities
Having expert staff in the main fund jurisdictions allows a fund administrator to support you across domiciles and to maximise the use of its expertise. When that is combined with a single source of information, staff can collaborate across jurisdictions, providing you with multi-jurisdictional time zone support and creating cost savings.
4. Advanced technology and innovative product offering
State-of-the-art technology allows a fund administrator to provide you with uniformity across jurisdictions and functions. Automated processes leave more time for data checking and analysis. A fund administrator should not be over-reliant on Excel.
A client's needs continue to evolve with increased regulatory requirements and investor demands, and the product development roadmap of your service providers should align to meet your current and future needs.
5. Diverse talent
A diverse team that includes subject matter experts in all areas of the business, including technology, compliance, cosec and accounting, ensures all aspects of your funds' administration are performed to the highest standard.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
