August 2019.

 _The primary reason why fund managers choose to outsource their fund administration is to allow them to focus on what they do best – managing their funds and create value for their investors.

Fund managers work with fund administrators to meet higher investor demands amid increased regulatory requirements, compliance support and risk management needs, due to cost effectiveness or a lack of in-house expertise.

Property management, net asset value (NAV) calculation and custodianship, for example, are not tasks which managers typically in-source. They therefore consider full outsourcing to service providers which use trustworthy technology platforms, taking advantage of economies of scale as administrators service multiple clients and fund structures.

Shahed Hoolash (Left) is the Managing Director- Vistra Mauritius while Yudishtir Buldewo (Right) is a Senior Manager, Business Development, Vistra Mauritius.

What to look for when outsourcing fund administration?

Fund managers want to have confidence that their service providers share the same values when it comes to servicing their investors and expect the fund administrator to be an extension of their service offering.

Fund managers therefore require the following from fund administrators:
1. Robust technology platforms which are regularly enhanced
2. Technical knowledge and team depth
3. Service capabilities in multiple jurisdictions
4. Relevant independent certifications e.g. SoC2 and ISAE 3402
5. Strong client base
6. Service offering that evolves together with regulatory changes (e.g. FAT CA, CRS, GDPR)

"Property management, net asset value (NAV) calculation and custodianship,

for example, are not tasks which managers typically in-source.

They therefore consider full outsourcing to service providers which use trustworthy technology platforms,

taking advantage of economies of scale as administrators service multiple clients and fund structures.

Technology
Nowadays, superior information delivery systems and the ability to make data useful are a necessity. Having best-in-class systems in place, helping fund managers and investors unlock the value of their portfolio data while securely delivering all the information they require is paramount.

These platforms help reduce operational risk, automate processes and simplify work-flows for complex fund structures in a number of ways:

1. Private equity fund administration systems should perform key functions such as managing complex fund structures and supporting multiple sets of books while automating calculations and complex functions.

2. Hedge fund systems should be flexible enough to support the processes and cycles that underpin hedge fund administration and portfolio accounting. Bespoke systems that are designed specifically for the work-flow needs of clients’ operational teams, providing them with data integrity, a complete audit trail, full position reconstruction, and the additional benefit of a true general ledger to ensure NAV accuracy is also required.

3.Secure Web portals allow fund managers to access all documents including monthly NAV packages and investor files while investors can access all their monthly statements as well as investor correspondence that the manager wishes to distribute via the web.

What makes VISTRA a strategic choice?
As a leading independent fund administration service provider, we have the expertise and experience to ensure the smooth set-up and operation of funds anywhere in the world.

Vistra’s key facts and figures:
• Global presence in 46 jurisdictions including Mauritius
• Serves over 100 Fortune 500 companies
• Strong technology platforms with FIS Investran, VPM and EZE
• Over US$292 billion of alternative investment fund assets under administration
• Its depositary services under the AIFMD have been included in ISAE 3402 since 2014
• Service Organisation Control 2 (SOC2) compliant in the US and ISAE 3402 compliant in several jurisdictions including Mauritius

With decades of experience, highly qualified experts, a global presence and industry-leading technology, Vistra provides comprehensive end-to-end support, which ranges from investor communications to managing cash flow or compliance with regulations.

Vistra provides the following as part of the Fund Administration outsourcing services
•Fund formation and fund raising
•Bookkeeping and reporting
•Call and distribution notices
•Waterfalls and carried interest
•Investor services
•Year-end services
•Treasury services

Global reach – Mauritius and Africa
With a presence across 46 jurisdictions, Vistra provides a global reach for fund managers to outsource their corporate and fund administration functions. The team of more than 175 accountants and administrators in Vistra Mauritius can support regional fund managers’ growing ambitions.

Shahed Hoolash: is the Managing Director- Vistra Mauritius while Yudishtir Buldewo: is a Senior Manager, Business Development, Vistra Mauritius.
Tel: +230 260 7165, Mobile: +230 52591941, Email: Yudishtir.Buldewo@vistra.com