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What Is A Fund Administration Agreement

A good next step is to develop a responsibility matrix with your administrator. It is a document that describes who is responsible for each daily/weekly/monthly/annual function. Implementation of a Service Level Agreement (SLA) is also a very good idea. Like a liability matrix, an ALS will also define agreed responsibilities and outcomes. The undersigned certifies that he is an approved signatory to the IndexIQ Active ETF Trust (trust) and that the following funds are included in the November 18, 2013 management and accounting agreement between the Trust and the Bank of New York Mellon. Since compliance with these rules is absolutely crucial, fund managers need to consider whether they have the resources and whether they should continue to comply in the future. Many managers have found the answer in an outside party like their fund manager to reduce the burden and reduce the risk of staying in this ever-changing environment. More and more investment managers are outsourcing the management services of their onshore funds, which makes especially sense if the structure is a master feeder or a mini-master feeder. The selected administrator must be able to manage, ideally, the partnership allocations on the basis of book and tax.

According to some fund managers, any task necessary to maintain the fund that does not fall into one of the two categories mentioned above could be considered fund management and could be a candidate for outsourcing. A full service administrator plays a key role in the pre-launch process. It will set up an in-house legal advisory team to provide advice on the structure of the fund, the method of clearing and the calculation of incentive charges. The Director`s in-house advisor will also check all of the Fund`s legal documents and contact the Fund`s advisor to ensure that the Fund is ready to start. One of the principal tasks of the administrator is to independently calculate the net inventory value of the fund, which investors increasingly need.