BNP Paribas Securities Services expands hedge fund administration services
BNP Paribas Securities Services this week announced the launch of a major investment programme to expand its hedge fund and FoHF administration services for both offshore and onshore UCITS funds. The programme intends to tailor its services in order to more closely match the key requirements of start-up and established funds, placing transparency, market exposure, liquidity and control at the heart of the administration platform. BNP Paribas said that by building on existing fund accounting, performance and risk monitoring capabilities its investment programme now enabled it to support hedge fund managers running all current strategies, including high volume trading. On the fund reporting side, the programme provides details of daily profit and loss, counterparty and asset exposure risk, as well as FAS 157 compliant daily asset valuations. Enhanced transparency is achieved through tri-party reconciliations between fund, administrator, counterparties and prime brokers. The online reporting tools also make it easier for investors to access fund data.
Chris Adams (pictured), head of hedge fund solutions at BNP Paribas Securities Services, said that as the hedge fund industry becomes more “institutional investor-focused” hedge fund managers’ administration requirements would continue to evolve. “This investment programme, now live, was conceived specifically to meet these requirements by taking a more menu-driven approach – helping managers launch funds quickly, measure counterparty exposure and exert greater control,” commented Adams.
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