Prime Fund Solutions has been a pioneer of fund servicing and financing to the alternative asset management industry since it was first established in 1969. The firm prides itself on its client-focused operating model and counts its industry-leading infrastructure and highly experienced staff as key differentiators in a competitive market. In Europe, the firm has offices in London, Geneva, Luxembourg, Amsterdam, Dublin, Galway and the Isle of Man.
Global hedge fund managers, funds of funds, private equity funds and sovereign wealth funds are all clients of Prime Fund Solutions. “In Europe we serve funds of various sizescovering a variety of strategies,”says European regional director Charlie Woolnough. “Our book of business is split approximately 50:50 between single manager funds and funds of hedge funds.”
By providing a full suite of services, clients are able to focus on what they do best – managing portfolios and keeping their investors happy – knowing that PFS has the experience to handle all issues, both big and small, related to fund administration and custody.
The firm has received SAS 70 Type II Certification in all three regions that it operates, Europe, Asia and the Americas. Prime Fund Solutions has the capacity to meet its clients’ needs, regardless of fund structure or regulatory regime, such as corporation, Ucits, master/feeder structure or special purpose vehicle, assets ranging from equity and fixed income to private equity, and strategies including arbitrage and managed futures.
PFS provides a full range of administration services from full NAV calculation to shareholder services and corporate secretarial services. The firm also acts as custodian for funds of hedge funds, offering an advanced product mix of forex, treasury and financing. The financing product is well known for its structural simplicity. Cash overdrafts are offered, using portfolio holdings as collateral, which makes the process simple,flexible and transparent.
PFS has remained committed to keeping its core technology ahead of the competition by deploying the latest versions of Advent Geneva on the accounting side and Koger NTAS for shareholder servicing. Taking this best-of-breed approach to technology means that PFS has been able to handle clients’ increasingly complex needs in areas such as modified fee structures.
In Global Custodian’s 2010 Hedge Fund Administration Survey, the firm was in the top two in its peer group league table, and was the only administrator to receive more 150 Best in Class awards throughout all the service areas and rating categories.
There are several reasons for Prime Fund Solutions being so highly regarded by peers and clients alike: its international footprint, client-centric service model, superior fund accounting and best-in-breed core systems, not to mention its long and distinguished history, which clients appreciate.
In the summer of 2010, PFS underscored its commitment to the fund of funds sector by launching PFS Horizon, a dedicated service platform which it developed with IT specialist Comada. Says Woolnough: “We believe this new technology represents a significant step forward in the fund of hedge funds middle office and reporting arena. Our ability to provide greater transparency, asset safety and robust infrastructure are increasingly important factors for our clients.”
Regarding the award, he adds: “We are delighted to have achieved the greatest number of votes in the industry. We’re proud that our clients recognise the effort we put into our administration service and are committed to continuing to provide the highest level of client service in the industry.”
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