Four areas to consider when reviewing your fund administrator

Increasingly, the third-party fund services industry is moving to a position where reviews of external service providers are a standard part of the operating model. 

Reviews are an opportunity to conduct an in-depth review of the service you are receiving from your provider. 

What are the four key areas to consider when reviewing your fund administrator?

1. Responsiveness 

How quickly does your provider respond to requests for additional information or reports? If you have a service level agreement (SLA) with your provider, it should always meet the response times set out in that agreement and aim to exceed them. 

2. Technology 

How confident are you that your provider is using best-in-class technology that has been customised to optimise your set-up? Are they reliant on Excel spreadsheets? How up-to-date is its technology? How reliable and flexible is it? Do you have complete confidence in the information you receive? 

3. Expertise 

How deep is your service provider’s expertise in your market segment? Does it work with many funds that are similar to yours? Can it provide you with valuable market insights? Does it have subject matter experts across all areas of the business? 

4. Efficiency 

How streamlined is your service provider’s offering? Is there a single source of truth that you can access for all your data needs across jurisdictions and functions? Is it possible to find errors quickly and interrogate the data to produce granular reporting? 

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: Explore strategies for overcoming the obstacles fund managers face when switching fund administrators and gain valuable insights to streamline your operations.