CommonWealth Opens U.S. Office in San Francisco
Aug 15, 2015
CommonWealth Fund Services Ltd. has expanded beyond its borders to service U.S. fund managers by establishing an office in San Francisco, California. Led by Mackenzie Crawford, Managing Director, CommonWealth has opened its office at 201 Mission Street, in San Francisco’s technology hub SOMA district.
With a well-established group of Canadian clients and a growing crop of offshore and U.S. clients and prospects, CommonWealth selected San Francisco due to its growing hedge fund and private equity industry. By establishing a sales and service presence on the west coast, CommonWealth aims to reach new clients throughout California as well as surrounding states with developing hedge fund markets such as Dallas and Seattle.
With the Canadian Dollar a significant discount to the U.S., CommonWealth will maintain its Toronto head office as its central operations, continuing to provide high-service fund administration, fund accounting and investor services. “U.S. managers are able to leverage their valuable dollar by buying our services as a relative discount to our U.S. competition,” said Mackenzie Crawford, Managing Director. “As a boutique, high-touch administrator, we’ve never competed on price, but we are seeing big opportunities among established and emerging managers who are currently overpaying and underserved by using existing mid-market competitors.”
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.