Fund Recs blog
As someone who has relied on Excel for over 20 years, I said I would write an account of my love hate relationship with it. At times, it has been my friend, but also my foe.
Having attended, exhibited and participated in a panel at the Annual Conference over the last few years I’ve always found the content to be excellent and deserving of a wider audience.
From start-ups to large Enterprise companies the debate of whether to ‘build’ or ‘buy’ software is one that comes up on a regular basis. This post explores why I think in most cases you should import innovation in order to focus internal development on creating a core competetive edge.
The Central Bank of Ireland this week issued a "Dear CEO" letter outlining concerns over the rising level of outsourcing to global service providers. Based on a thematic review carried out on five of the larger Irish Fund Administrators during the first half of 2016 the Central Bank found that the extent of outsourcing amongst these is extensive and continuing to grow with levels of between 48% and 68% of fund administration activities outsourced as at the end of 2015.
The Investor Money Regulations came into effect on 01 July of this year and applies to collection accounts that hold Investor monies. The aim of the regulation is to enhance investor protection by ensuring the Fund Service Providers (FSP) properly segregate, monitor and reconcile collection accounts daily. Investor money is any money to which an investor is entitled, received from or held on behalf of an investor.
Leading global Fund Administrator and technology provider SS&C have been sued by one of its hedge fund clients,Tillage Commodities Fund, claiming it ignored its own protocols and deceived clients into thinking it had sound technology to prevent Chinese hackers from spoofing its identity when transferring and stealing $5.9 million in US dollars.
Are hedge funds throwing away thousands of dollars by insisting on duplicating the fund accounting function? One of the key responsibilities of the fund administrator is to calculate the fund net asset valuation, the official NAV. Surely they can get that right, right?
Historically the period of time available to Fund Administrators to produce a fund's Net Asset Valuation (NAV) has moved from an acceptable five days after valuation date (T+5) to the current environment where an increasing number of managers are demanding NAV releases on the same day as market close (T).
Back in September we closed investment from Telefonica and won a place on its Wayra accelerator here in Dublin. We're very excited to partner with the great team in Wayra as we enter a phase of growth in Fund Recs.
With the World Cup coming to a climax in Brazil this Sunday we thought we'd have a little fun picking a team from the universe of Hedge Fund related parties.
CSV is a common file format used regularly in financial services. Most applications will allow you to import and export data in CSV format. It is therefore important to get a good understanding of the CSV format to better handle the data you work with on a daily basis. This article runs through some of the nuances of working with CSV files and provides plenty of examples to tie everything together.
It's been almost ten months since I quit my day job in Financial Services to work full time on my start-up. We've been working hard and having a lot of fun while also picking up some valuable lessons along the way.
We were delighted to host an 'AIFMD Depositary breakfast briefing' last Thursday in The Westin Hotel. Any seminar is only as good as it's speakers and we were lucky to have three great speakers on the day. A special thanks to Sarah O'Sullivan, Shane Brett and Cian O'Connor for supporting the event.
When we set out to build Fund Recs we decided early on that we were not going to follow the same path as other enterprise software vendors. If we were to do that then we'd end up with a company that is similar to our competitors or at best slightly better. Our goal is to build products and a company that are exponentially better than our competition.
Get our Whitepaper "6 steps to Automating your Reconciliation workflow"
We examine the practical steps when switching from a manual to automated Reconciliation Process.
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