CommonWealth Fund Services wins Top Administrator Award Again
Nov 3, 2015
CommonWealth Fund Services Ltd. has been named Top Canadian Hedge Fund Administrator at the Canadian Hedge Fund Awards for the second year in a row.
The company, which provides investment fund administration services to alternative fund managers, won the award during the 8th annual Canadian Hedge Fund Awards held in Toronto.
The award for Top Canadian Hedge Fund Administrator was determined by industry voting, and for the second year in a row CommonWealth earned the majority of votes, according to awards organizer Alternative IQ. This recognition follows a fourth consecutive year as highest rated Canadian administrator on the Global Custodian Hedge Fund Administration Survey, on which CommonWealth earned a Category Outperformer award earlier in 2015.
“I’m very proud of the work our team has accomplished to get us to this point,” said Joe Zhang, Managing Director. “We will continue to develop and implement process improvements to help us achieve our lofty goals in Canada and abroad, building on this success.”
CommonWealth received a staggering 83% of all the votes cast in the Administrator category. Many fund managers added comments with their vote including “tremendous attention to client service”, “professional and trustworthy”, and “great systems”. Elliot Johnson, Director of Operations & IT, Fiera Quantum LP commented “CommonWealth's depth of expertise, quality of service and responsiveness to new challenges is of the highest calibre. They are a pleasure to work with. Their service quality makes us look good to our investors”. Michael Yurkovich, President & PM, Refraction Asset Management Ltd. added “Has exceeded all expectations of what best in class service means to us”.
In a year where CommonWealth saw changes to their senior leadership, the future is bright for the young, growing firm. Mackenzie Crawford, who together with Joe Zhang were named Managing Directors earlier this year, commented “Administration is a fine balance of having smart, hard-working people and innovative, robust technology. We sought to improve on what were already strengths during 2015 in order to defend our title as Canada’s best hedge fund administrator. Our clients have rewarded our efforts with their vote and we are very grateful to be able to work in partnership with some of Canada’s leading fund managers.”
About CommonWealth Fund Services Ltd.
Founded in 2007, CommonWealth Fund Services Ltd. is a Canadian fund administrator servicing 100 domestic and offshore investment funds totalling more than $7.5 billion in assets. CommonWealth calculates fund net asset values on a daily, weekly, monthly, or quarterly basis, acts as transfer agent, and supports its clients with financial statement and tax return preparation. The firm has its Section 3416 qualification. CommonWealth’s parent company, Caledon Trust Company, is federally chartered and regulated by the Office of the Superintendent of Financial Institutions. Caledon acts as trustee for many funds which CommonWealth administers. Further information on CommonWealth is available on the company’s web site at www.commonwealthfundservices.com.