Five key things to look for when selecting a fund administrator

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 a new fund administrator.

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 can significantly reduce errors and streamline processes. A single source of truth makes it easier for you to operate funds across multiple jurisdictions and the uniformity of processes allows the fund administrator to 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 detailed analytics that support you in your job and drive efficiency. Over 68% of respondents in our survey said that they would prefer to use one supplier to cover a breadth of services than use multiple suppliers.

3. Cross-jurisdictional capabilities 

Having expert staff in the main fund jurisdictions allows a fund administrator to support you across multiple domiciles and maximise the use of its on the ground expertise. When that is combined with a single source of information, staff can collaborate across jurisdictions, providing you with multi-jurisdictional time zone support, creating cost savings. 

4. Advanced technology & 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. 

Charlotte Cruickshank, Head of Solutions and Onboarding at Ocorian Fund Services says:

“Breadth of services, technology and talent are all key things to consider when assessing your new service provider but ultimately, it all comes down to trust. You need to feel confident that the work your fund administrator is providing you represents your current position and you have faith in them and the work that they produce. It’s the old adage that you want a long and happy marriage with your service provider. I’d strongly encourage you to visit the office, meet the team and build a strong relationship from the get-go.”

Looking to switch fund service providers?

Ocorian has over 30 years of experience in delivering operational excellence across our fund administration, AIFM, accounting and depositary services to the world’s largest institutions along with dynamic start-up fund managers and boutique houses.

We have a strong track record of successful migrations from other fund service providers. In 2022 alone, our onboarding and solutions team successfully completed over 40 migrations from our competitors.

Find out why fund managers are switching their fund administrator to Ocorian. To arrange a call to discuss your requirements, please contact our Fund Services Business Development Team. 

Download our free guide: A complete guide to switching your fund administrator

Next up: Learn more about the four compelling reasons why fund managers are switching to Ocorian as their third-party fund administrator.