Engaging a fund administrator for your fund of funds offers a range of invaluable benefits. Firstly, it allows you to focus on strategic investment decisions, as administrative burdens are expertly handled. Additionally, a seasoned fund administrator brings robust reporting and compliance expertise, ensuring seamless regulatory adherence. Moreover, with their proficiency in managing complex fund structures and investor relations, they enhance operational efficiency and investor satisfaction, ultimately bolstering the fund's overall performance and reputation in the market.

Luxury asset funds often utilize multiple custodians for the safekeeping and escrow of assets. In this process, we proactively request regular updates and maintain a close eye on custodial inventory. Our dedicated team works diligently to track all asset movements in collaboration with our clients and their chosen vendors. This meticulous approach ensures that all fund assets are closely monitored and remain on course.

Communication with other fund administrators is a common practice, particularly when administering fund of funds. This communication is essential as we may have queries related to their reports and data, which are critical for our valuation of our client's fund of fund portfolio.

Our approach involves proactive communication and, when necessary, raising questions to obtain clarifications. This ensures that our understanding aligns with the data provided and facilitates necessary reconciliations. However, when everything runs smoothly, frequent communication may not be required. In such cases, our clients often forward the underlying NAV statements for our further processing in determining the fund NAV

Our collaboration with clients in the subscription and redemption process for underlying funds is a close and coordinated effort. We assist clients in various aspects, including providing the necessary KYC documentation required by the underlying funds.

While the decision to subscribe or redeem ultimately rests with the fund's directors, our role is to ensure that all transaction documentation is accurately completed. We also facilitate the transaction process, which may involve making subscription payments on behalf of the client or verifying redemption proceeds to ensure they match the recorded amounts.

Once we have the NAV statement from the underlying fund, we can typically issue the NAV for your fund of funds within one to two business days.

In terms of fee structure, fund of funds may not differ significantly from other hedge funds. However, due to its nature, it is subject to management fees and performance fees charged by the underlying funds. Many fund of funds managers seek to structure their funds to be more attractive to investors, so they may set lower fee rates for both types of fees or even waive some fees altogether. This approach is flexible and takes into account the fees charged by the underlying funds.

Yes, it is necessary. As a fund administrator, we require access to all investment-related agreements to review their terms. This is essential to fulfill our duties related to fund accounting, valuation, and cash monitoring. These agreements should ideally be drafted by legal professionals and align with the fund's governing documentation.

As a fund administrator, we typically don't directly perform the valuation of tangible assets held by the fund. Instead, this valuation is carried out by a third-party valuation expert. This expert can be an accounting firm or a specialized valuator with expertise in the specific type of tangible assets in question. Their independent assessment ensures accuracy and objectivity in the valuation process