Competition is good, but independence is better
As large prime brokers and some legal and accountancy firms offer administration services, how will this impact on global fund administrators?
Akshaya Bhargava at Butterfield Fulcrum says the primary benefit of third-party administrators is to provide independent fund accounting services. “If the administrator is linked to the prime broker or accountancy firm, then there is a risk that there will not be real independence in the booking and reconciliation on trades and the valuation/net asset value (NAV) calculation process,” he says.
“We consider the independence of the administrator to be a defining quality,” declares Oliver Scully at
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