Fund Administration

Fund administration is where our business started and is the cornerstone of our single-source solution offering.

We have continually evolved and enhanced our ability to deliver timely, accurate and independent fund administration services that our clients love. Our fully integrated global fund administration solution supports you with financial information, multi-currency transaction processing and flexible valuation periods.

Our connected approach to technology supports the secure transfer of data, across the full value chain, enabling us to support even the most complex of structures across all asset classes and regions.

• Onboarding

We have developed a strong, globally connected onboarding team to ensure that we deliver the highest levels of service to our clients at every stage of their experience.

The onboarding stage is a crucial moment in our partnership. It is critical that we make this experience seamless and our global onboarding team are dedicated to this mission.

Consistency is key. Every client is assigned an onboarding lead to co-ordinate the process and act as the principle point of contact across all service lines. Our immediate focus is to ensure that we deliver a smooth and structured process and client experience.

Our Commitment to you:

♦We will agree timelines upfront and manage the onboarding process

♦We will arrange regular calls with you and any other key service providers you have

♦We will provide our comments and feedback on your fund offering documents

♦Where required, we will assist with the opening of fund bank accounts

♦Where applicable, we will assist with establishing connectivity for the daily receipt of trade files and broker feeds

♦We will commit to and agree the format and timelines for the delivery of valuation and investor reporting

• Fund and Portfolio Accounting

• Our aim is to deliver a tailored client experience; we want you to feel that our fund accounting team is part of your own team and this partnership is at the heart of our service delivery framework.Our fund and portfolio accounting teams are fully equipped to service the entire range of investment fund structures (from vanilla strategies to highly sophisticated and complex investments). We are here to take the operational burden away from you in an ever-changing investment environment, with increasingly complex regulatory requirements.

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  Services include:

♦Maintaining books and records in accordance with fund governing documents

♦Collating and documenting all underlying investment information

♦Preparing financial statements and maintenance of trial balance and supporting documentation in accordance with relevant accounting standards

♦Preparation of NAV package; including a detailed trial balance adjusted for accruals, balance sheet and statements of operations

♦Provision of supporting documentation of all trial balance line items

♦Tracking and reconciliation of accounts payable and accrued expense

♦Reconciliation of all fund-specific cash flow activity

♦Assisting auditors with annual audit

♦Tracking costs

♦Calculating and reporting management fees

♦Maintaining fund waterfalls (calculated carried interest)

♦Performing subsequent close calculations

♦Providing IRR calculations

♦Processing all non-trade related cash movements

♦Monitoring and processing capital transactions

♦Entering all portfolio transactions into the accounting system

♦Monitoring and recording any corporate actions

♦Reviewing and reconciling broker/custody agent's statements

♦Independently value the Fund’s portfolio using agreed upon pricing policy

♦Supporting multi-series, equalisation and partnership accounting

♦Calculating daily, weekly and monthly unit prices for investment funds, taking local tax and fee components into consideration

♦Calculating daily, weekly, monthly or quarterly net asset value as required

Financial Statement Preparation

• We have a dedicated team of accounting professionals that prepare financial statements for our client's funds entities. We prepare the unaudited financial statement in conformity with the relevant accountings standards, such as IFRS and US GAAP.
  

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• Services include:

♦Preparation of the draft annual financial statements according to applicable accounting standards

♦Preparation of Cost-roll / Market Value roll and other proofs for verifications of figures shown in financials

♦Preparation of draft Notes to Financials (including Significant ♦Accounting Policies, Amendments of New/Recent Accounting standards, Disclosures, Risk Calculation and Significant/Subsequent events)

♦Liaison with auditor with regards to supporting documents and audit timelines

♦Production of a standardised checklist during the preparation and review of each set of financials - checklists are subject to the relevant account standard

♦Provision of full Registry services including investor/member fulfilments, PIE or other local tax liability calculations, tax payment or receipt process

♦Provision of annual reporting for the FMA's statistical KiwiSaver return, FMCA reports, member and financial statements and other required regulatory reporting

• Daily Administration Support

We provide asset managers with daily reconciled cash and position reporting using a dedicated state of the art cash and position reconciliation software. As part of our daily service we will automatically upload your Trade Files into our core administration platform and complete three-way reconciliations between you and the custodian / prime broker. Cash and position reconciliations breaks are reported to you for further action and you also have the ability to view daily cash and positions from anywhere in the world, on our secure 24/7 reporting platform. To complement the daily administration support service, we also offer a daily performance and risk reporting solution through an enhanced reporting support service.

Service includes:

♦Daily trade uploads from the client trade files

♦Daily cash reconciliation performed against the custodian/prime broker

♦Daily position reconciliation performed against the client and custodian/prime broker files

♦Daily independent valuation of the Fund(s)/entity portfolio using primarily Bloomberg as a data source

♦Monitor individual equity securities for cash dividends, corporate actions and capital changes

♦Detail any breaks in position and cash with client and prime broker

♦Daily online T+1 cash and portfolio reporting via our online reporting platform

ESG and Sustainability Services

We work alongside you to find opportunities in regulation. Cross border trading can extend and further diversify your portfolio and even open up the potential for launching new products or accessing new markets.

Through our network of offices covering all key jurisdictions worldwide, we have unparalleled regulatory expertise both locally and globally. Our cross-jurisdictional solutions and expertise enables you to invest in any region or market with confidence that you are compliant with local regulations and law.

• FATCA Services

The Foreign Account Tax Compliance Act (“FATCA”) is a US law aimed at reducing tax evasion by US citizens and residents using offshore assets and accounts. FATCA requires reporting on two items:

♦U.S. taxpayers must report on certain foreign financial accounts and offshore assets

♦Foreign Financial Institutions (“FFIs”) must report on financial accounts held by U.S. taxpayer or foreign entities in which U.S. taxpayers hold a substantial ownership interest. If FFIs do not comply with FATCA, they will be subject to a 30% withholding tax penalty on certain U.S. sources of income

With extensive understanding of both US tax requirements and local regulations elsewhere in the world, we are perfectly placed to assist you with FATCA compliance.

Services include:

♦Obtaining the Global Intermediary Identification Number (“GIIN”) which is needed to demonstrate FATCA compliance in order to avoid any withholding penalties

♦Classifying investors tax status based on documentation provided. In instances whereby there are indicators of US place of birth then we will request, in addition to the self-certification, a copy of the investor's certificate of loss of nationality or a reasonable explanation as to why the investor does not have such a certificate

♦Contacting investors where there is insufficient data to determine US status and where applicable request self-certifications in order to determine US status

♦Performing a full review of investors on December 31st each year to identify any change of circumstances. The reviews will focus on US status and US indicia to ensure that reporting on any new investors is accurate and any updated information obtained for existing investors is captured prior to reporting. ♦Accounts shall be treated as US reportable accounts if after the application of due diligence procedures, the status of the account is still ambiguous

♦Reporting on accounts that are classified as ‘recalcitrant accounts' post the due diligence reviews

♦Reporting on all accounts deemed to be held by a US person or entity as per the provisions of the IGA to the relevant local tax authority within the specified reporting deadlines using the FATCA XML Reporting Schema

♦Acting as the principal point of contact through one of our employees

♦Keeping a record of the documents as per the regulatory provisions and provide report to the board of the company

• CRS Services

The Common Reporting Standard (“CRS”) is a set of global standards for the automatic exchange of financial account information which impacts on the information gathered from every investor and account holder. CRS is designed to support and give effect to the Automatic Exchange of Information (“AEOI”) which is a globally coordinated standard inhibiting offshore tax avoidance and evasion; it does however mean that there is a major increase in reporting requirements for mangers.

We can help assist in making this process hassle-free and help funds prepare to comply with CRS obligations.

Services include:

♦In accordance with account opening procedures, record one or multiple tax residencies where applicable

♦Classifying investors tax status based on documentation provided

♦Contacting investors to obtain additional tax documentation where required

♦Performing a full review of investors on December 31st each year to identify any change of circumstances

♦Reporting on accounts that are classified as ‘undocumented accounts'post the due diligence reviews

♦Reporting on all accounts deemed to be held by a CRS reportable account to the relevant local tax authority within the specified reporting deadlines using the CRS XML Reporting Schema

♦Acting as the principal point of contact through one of our  employees

♦Keeping a record of the documents as per the regulatory provisions and provide a report to the board of the company

• Annex IV Reporting

As part of the reporting obligations under AIFMD, all European registered alternative asset managers marketing into the EU or EEA are now required to report to their particular jurisdiction under AIFMD.

Non-EU alternative fund asset managers are also required to file in all jurisdictions into which they market.

There are two Annex IV report categories:

♦AIFM report: A consolidated view of assets managed

♦AIF report: Required for each fund detailing assets held, exposures, investor profiles etc.

Our process is an easy to manage end-to-end filing process affording AIFMs one of our local dedicated account managers, alongside the backing of a global firm, experienced with multiple jurisdictional and regulatory requirements.

Our Annex IV Reporting service uses market leading technology to ensure accuracy, consistency, timeliness, and control.

Services include:

♦Conducting an initial scoping exercise to determine the reporting frequency and initial reference data for the AIFM and AIF

♦Agreeing with the AIFM the process to obtain and confirm reference / static data for subsequent reports

♦Agree how and what we will collect with regards to information required to complete the Annex IV reporting that we do not already have in our possession

♦Delivering in excel or HTML the completed ESMA Annex IV template with corresponding support documentation for the AIFMs approval

♦After the AIFM approves the ESMA template prepared by us, convert the template to a submission ready XML format

♦Delivering the submission ready XML file to the AIFM

• Form PF

Form PF is a US Securities and Exchange Commission (“SEC”) regulatory filing requirement and affects SEC registered managers of private equity funds, real estate funds, hedge funds, and liquidity funds with at least US $150 million in private funds assets.

We can help assist in making this process hassle free and help you prepare to comply with this obligation.

Services include:

♦Conducting an initial scoping exercise to determine the reporting frequency and initial reference data required

♦Agreeing on the process with you to obtain and confirm reference/ static data for subsequent reports

♦Agreeing how and what we will collect with regards to information required to complete the Form PF reporting that we do not already have in our possession

♦Providing access to our cloud based portal where you can review and sign-off files, drill down into underlying details and run period to period comparison reports

♦Coordinating the data, run jurisdiction specific validations, and manage the end-to-end process

♦Providing you with a submission ready file or discuss the provision of submission services