Fund administration still vital to Bermuda's economy

The first administrators on the island set up in the late 1980s and early 1990s to support the hedge fund industry during its formative years. Bermuda-based companies like Tranaut Fund Administration, Forum Fund Services, Hemisphere and International Fund Administration (IFA) pioneered the concept of independent hedge fund administration and gained a reputation for high-quality client service and sector expertise.

When the large custody banks decided to enter hedge fund administration in the ear