Our services are consistent, accurate, timely, proactive, responsive and reasonably priced. We are committed to meeting the changing needs of our clients, and our automated system provides us with flexibility in the services we can offer.
Our goal is to provide an unsurpassed level of service to each of our clients, and as a flexible organization we are able to cater to each of our clients’ unique needs. We have developed strategic relationships with providers of prime brokerage, audit, legal and other services and our role is to coordinate the engagement and ensure a successful execution of these services on behalf of the manager. This enables managers to focus on the core business of asset management.
- The primary services we provide are Fund Accounting & Valuation and Shareholder Recordkeeping for Hedge Funds, Mutual Funds, Fund of Funds, and Private Equity Funds. All fund accounting & valuation and shareholder recordkeeping processes are automated and fully integrated on a single technology platform, allowing us to take a fund analyst approach rather than a purely fund accountant viewpoint.
- Each of our fund accountants are involved in the end-to-end process of a particular fund, allowing them to understand the process more clearly, and acting as a single point of contact for the fund manager. We employ multiple quality control procedures including automated diagnostics checks and manager-level review to ensure we meet our quality standards.
- Elements of our portfolio accounting services are:
- Daily, weekly and monthly net asset value calculations
- Straight-Through-Processing upload of daily trading activity from manager and/or prime broker
- Reconciliation of cash balances and positions with prime broker(s)
- Independent pricing of the investment portfolio
- Processing of corporate actions, such as dividends and stock splits
- Calculation of interest on interest-bearing securities
- Calculation of performance fees in accordance with fund documents, including complex fee structures and hurdle rates if required
- Calculation of management fees in accordance with fund documents
- Calculation and accrual of other fees, including administration, legal, audit, and custody fees
- Income allocation and adjusted Cost Base calculations
- Our system can accommodate Multi-Series Accounting, Equalization Accounting and seamlessly supports varied fund structures including: Unitized limited partnership, US-style limited partnership, Unit trusts and Master-feeder structures.
- We act as a Transfer Agent and maintain the Shareholder Registry. Our shareholder services include:
- Maintenance of the share/unit register or partner capital accounts
- Processing of subscriptions and redemptions and providing confirmations to shareholders
- FundSERV order processing
- Reporting net asset values and partnership values to investors
- Electronic distribution of confirmation and month-end valuation statements to shareholders
- On your behalf, we coordinate and assist with the annual external audit, tax filings, including tax slips for investors, and trust & partnership returns. We can maintain copies of KYC and AML documents and assist with other regulatory filings and compliance issues.
- The integration of administration facilitates a single point of contact for all funds flows and fund accounting. Timely delivery of information to managers, such as subscriptions and redemptions, enables better decision-making.
- CommonWealth provides the necessary support to make starting your relationship with us a positive one. We have years of experience launching new funds and converting funds from other platforms to our own.
- We can liaise with your legal counsel to ensure the offering and subscriptions documents are accurate and we will coordinate with your prime broker and/or custodian to ensure our systems are tightly integrated.
- During a fund transition, we will manage the process with your previous administrator to receive all necessary documents, electronic records, and investor balances. We will upload all investor capital and tax accounts and maintain correct allocations for profit. We will upload all portfolio positions reconciled with the prime broker, and reconcile the investor portfolio, general ledger, and shareholder balances to the previous administrator. If required, we can distribute notices to the investors advising of the administrator change.
- We do everything we can to ensure that our clients can focus on capital raising and fund performance.