CommonWealth Fund Services was created by former hedge fund managers, to be the type of administrator they wished they could have used. CommonWealth and Caledon Trust were established in 2008 and have been in operation in Toronto, steadily growing ever since.

In early 2007, John Clark and Mark Damelin, founders and former owners of JC Clark Ltd. become frustrated with their fund administrator and began researching solutions to receive the type of service they expected. Having not found what they were looking for after engaging two Canadian administrators, they embarked to build their ideal company themselves. Managing over $250 million in assets at the time they were interested in better accuracy, reliability, and turn-around time than they were getting from their traditional administrator. Recognizing that there was a gap in the market for an innovative service provider, leveraging technology to provide a better service they trusted fellow fund managers would follow suit. Throughout 2007 they developed processes to service their own fund with the idea that they may one day service others. Later, they sold their interest in JC Clark and established CommonWealth Fund Services with the vision of being a new kind of fund administrator, one that leveraged new technology to provide clients greater accuracy and faster turnarounds, and one that would continue to be innovative as the market changed – a very unique approach.

As a result of our fund management experience, we know the kinds of problems our clients face on a day-to-day basis and in everything we do we seek to change industry status quo.