Competition is good, but independence is better

Global Fund Administration Management Report 2010

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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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