Luxembourg has become a top performer in the alternative investment fund sector in recent years. As of March 2022, the net assets managed by regulated Luxembourg funds totaled EUR 5,557,342 billion. This is an exceptional growth rate of more than 11 per cent over the previous two years.

Luxembourg is the largest investment fund centre in Europe and the second largest globally, after the United States. This is due to its established legal and regulatory framework, which allows for some degree of fund design flexibility.

Luxembourg is a significant financial hub with strong investment fund regulation. The Commission de Surveillance du Secteur Financier (CSSF) has the authority to approve and regulate undertakings for collective investments (UCI). 

This article aims to give a general overview of the fund regime particularly on open-ended funds in Luxembourg. 

What is an open-ended fund? 

An open-ended fund is a pooled, diversified portfolio of investor funds with an unrestricted capacity to issue shares. The sponsor of the fund sells and redeems shares directly to investors. The current net asset value (NAV) of these shares determines their daily prices. Open-end funds include some mutual funds, hedge funds and exchange-traded funds (ETFs).  

How open-end fund operates 

As long as there is demand, an open-ended fund will issue shares. It is known as an open-end fund since it is always accepting investments. Moreover, investors can combine their money and buy a diversified portfolio. This reflects a certain investment objective using an open-ended fund, which is a simple, affordable option. The funds may focus on making investments in particular industries and jurisdictions like Luxembourg. An open-ended fund is often available to investors of all experience levels because entry requirements are typically not expensive. 

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Types of investment funds in Luxembourg 

The following are the main types of investment funds in Luxembourg: 

  • Undertaking for Collective Investments (UCI) 
  • Undertakings for Collective Investment in Transferable Securities (UCITS) 
  • Alternative Investment Funds (AIFs) 

The EU implemented two regulatory frameworks; the Alternative Investment Fund Managers Directive (AIFMD) and the Undertaking of Collective Investment in Transferrable Securities Directive (UCITS). These regulatory frameworks aim to provide high levels of investor protection appropriate for professional and retail investors, respectively.

A unified EU regulatory framework applies to UCITS, which are open-ended funds that invest in transferrable securities like shares and bonds. Investment funds receive a “passport” allowing them to freely promote themselves across the EU if they meet the UCITS requirements. 

UCITS does not apply to investments in real estate, private equity, venture capital, hedge funds or debt funds. However, the AIFMD governed these activities, which also applies to the managers of non-UCITS investment funds. Authorised AIF managers have access to a “passport” that enables them to reach professional investors within the EU. 

As one of the first EU members to implement the AIFMD, Luxembourg was also the first to enact UCITS into national law. The success of Luxembourg’s investment fund business is a result of these actions. 

Legal forms for UCI in Luxembourg 

When registering a vehicle as UCI in Luxembourg, foreign investors can set up their funds in the form of three legal structures with different characteristics. In this situation, investors can select from the following Luxembourg investment funds:  

  • Common investment fund or FCP (Fonds Commun de Placement) – this is a type of fund with no legal personality and listed as an open-ended mutual fund. 
  • Investment company with variable capital or SICAV (Société d’Investissement à Capital Variable) – capital is controlled by investors and SICAVs do not have a fixed number of shares that are traded in the public market, like open-end mutual funds. 
  • Investment company with fixed capital or SICAF (Société d’Investissement à Capital Fixe) – may be established as public limited company, a limited liability company, partnership limited by shares or co-operative.  
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Other fund structures used in Luxembourg

  1. SICAR (Société d’investissement en Capital À Risque) 

Established on 15 June 2004, the SICAR is an investment company for risk capital investments. In addition, SICAR must have the CSSF’s approval as a regulated fund entity before launching. It is the traditional form for private equity and venture capital investments, although it can also participate in opportunistic real estate projects if it qualifies as risk capital. It is possible to set up the SICAR as a multi-compartment fund structure.  

  1. SIF (Specialised Investment Fund) 

Just like the SICAR, SIF is also a regulated fund which needs approval by the CSSF before launching. The SIF is a fund created in accordance with the law of 13 February 2007, and it may be used to invest in any asset class, including any kind of alternative asset. Further, the SIFs may be set up as multi-compartment funds, but they must adhere to the diversification rule that prohibits investing more than 30 per cent in one single asset.  

  1. RAIF (Reserved Alternative Investment Fund) 

The RAIF is an indirectly regulated fund. The RAIF law entered Luxembourg’s legal and regulatory system in July 2016 after a speedy rollout and without requiring regulatory approval. The Luxembourg funds market can now quickly provide a product with complete fund flexibility that is not under CSSF supervision.  

  1. SCSp (Special Limited Partnership) 

The Special Limited Partnership is an unregulated fund. Moreover, it is the most popular of the three partnership structures available in Luxembourg for structuring alternative funds, with almost 4,000 entities established since its launch in 2013.

The SCSp is a non-incorporated entity because it does not have its own legal personality unlike the common limited partnership and the partnership limited by shares, or the SCS and the SCA. It gives the General Partner the highest level of flexibility in determining the structuring of the partnership. There is no such requirement for the SCSp. Meanwhile, there is a requirement for regulated and indirectly regulated funds to appoint either a depositary or an AIFM. 

Bolder Group Luxembourg 

Bolder Group is one of the few fund administrators in Luxembourg which offers fund administration services for open-ended funds. Our fund experts provide a wide range of services to local and foreign business owners looking to establish a fund in Europe’s leading investment fund centre.  

Are you considering establishing your next fund or relocating your funds to Luxembourg? Contact our team or visit our Luxembourg office today. 

The Cayman Islands – a top funds centre

The Cayman Islands, a group of islands located in the Caribbean Sea, is considered to be one of the leading financial hubs internationally. It is a popular jurisdiction for many organisations to establish and domicile their funds. 

The Cayman Islands Monetary Authority (CIMA) reported the highest number of regulated mutual funds of more than 12,000 as of the third quarter of 2021. Furthermore, despite only being introduced in 2020, private funds amounted to at least 14,000 in the same period. 

The Cayman Islands’ stable and pro-business economy is one of the many reasons why it is an attractive funds market and domiciliation centre. Aside from its thriving financial sector, industries such as tourism and real estate are also the leading contributors to the islands’ economic growth. Moreover, Cayman Islands’ investment fund structures are globally competitive and accommodating to those who are planning to set up a fund in the Caymanian market.

But how do you successfully set up a fund in the Cayman Islands? A fund administrator like Bolder Group can provide the expertise.

Investment fund vehicles in Cayman Islands

Investment funds can be organised according to the various investment fund vehicles available in Cayman Islands. Several fund vehicles are available and are being developed, which provides flexibility and added opportunity to fund managers for the development of their investments. The commonly used fund vehicles used to operate funds in Cayman Islands are the following: 

  • Exempted Company 
  • Segregated Portfolio Company (SPC)  
  • Limited Liability Company (LLC) 
  • Exempted Limited Partnership (ELP)  
  • Unit Trust 

Short descriptions of the available Cayman Islands fund vehicles are provided below: 

Exempted CompanySegregated Portfolio CompanyLimited Liability CompanyExempted Limited PartnershipUnit Trust
Separate legal personality Yes Yes Yes No No 
Tax Neutrality Yes Yes Yes Yes Yes 
Management authority /Parties Investment Manager and shareholders (no maximum number) Investment Manager and shareholders (no maximum number) Members (no maximum number) One or more general partners (GPs) and one or more limited partners (LPs) Unitholders (no maximum number) 
Applicable LawCayman Companies ActCayman Companies ActLimited Liability Companies Law Exempted Limited Partnership ActTrusts Law
Constitutive document Memorandum and Articles of Association Memorandum and Articles of Association LLC Partnership Agreement  Limited Partnership Agreement Trust Deed (declaration of trust) 

Different considerations are also in place to decide on what fund structure will be viable for an entity. Some of which are investor strategies, investor familiarity and leverage scale.  

Cayman Islands fund structures

The fund structure will be identified after selecting a suitable fund vehicle. This will determine the liquidity rights of a fund. 

A fund in the Cayman Islands can be structured mainly in two ways; it can either be categorised as a closed-ended/exempted fund or an open-ended/regulated mutual fund.  

A closed-ended fund, also known as a private fund, is required to register under the CIMA in accordance with the Private Funds Act. This type of fund does not allow investors to redeem their investments. For this reason, it is suitable for investments that have a longer period to mature. Examples of such are: 

  • private equity 
  • real estate 
  • investments in infrastructure 
  • venture capital 

On the other hand, an open-ended fund, otherwise known as a regulated mutual fund, is subject to regulation under the CIMA in accordance with the Mutual Funds Act. It is specifically regulated under the Investment and Securities Divisions of the CIMA. Unlike closed-ended funds, it allows for the redemption of profits or gains of an investment. Open-ended funds may be commonly organised as a(n): 

  • hedge fund 
  • licensed mutual fund 
  • administered mutual fund 
  • registered mutual fund 
  • master fund 

Shown in the table below are some of the similarities and differences between private and mutual funds in Cayman Islands. 

Private FundsMutual Funds
Number of investors No limits No limits 
Minimum investment level No minimum investment amounts US$100,000 or equivalent 
Registration CIMA, under Private Funds Act  CIMA, under Mutual Funds Act 
Redemption of equity Non-redeemable equity interests before dissolution of fund Redeemable equity interests 
Required Anti-money Laundering Compliance Officer (AMLCO), Money Laundering Reporting Officer (MLRO) and deputy MLRO Yes Yes 
Required Annual audit  Yes Yes 
Required valuations Yes (no less than annually) Yes (no less than quarterly) 

A Cayman Islands fund administrator can assist you in determining the fund vehicle and fund structure suitable for your investment efforts. If you are planning to establish a fund in Cayman Islands, contact or visit our local office

How to set up a fund in Cayman Islands  

The steps involved in the formation and registration of funds in Cayman Islands are systematic, a contributing factor to its demand in the funds market. Several requirements and courses of action will be imposed once the appropriate fund vehicle and fund structure are established. However, keep in mind that it will vary depending on the selected vehicle and structure. 

Here is a general checklist on the registration requirements of funds: 

Registration and operating requirements  

  • Documents to be filed 
  • Registration Fees 
  • Minimum capital requirements 
  • Annual audit requirements 
  • Valuation 
  • Financial reporting 
  • Other reporting requirements (e.g., Anti-money laundering reporting obligations, FATCA, CRS, etc.) 

If you wish to know more details about these steps and requirements, you can contact a Bolder Group fund administrator professional.  

Relevant regulations

The Cayman Islands has several regulatory and governance frameworks established to administer its thriving funds market.  

Aside from the aforementioned legislations that regulate the various categories of funds, important regulations concerning Anti-Money Laundering and Countering the Financing of Terrorism (AML/CTF) are also in place. The CIMA plays an important function in governing their efforts against money laundering and terrorism financing. Some examples of corresponding key legislations are the Proceeds of Crime Law, Terrorism Law, Proliferation Financing (Prohibition) Law, amongst others. 

The CIMA provides an index of regulatory measures relevant to the investment funds sector in Cayman Islands. Other pertinent laws and regulations are also made available by the monetary authority for public information. 

cayman islands
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Bolder Group Cayman Islands

The Cayman Islands serves as an attractive location for establishing an investment fund. The different fund structures and legal vehicles provide promising opportunities for the funds market.  

To successfully set up a fund in the Cayman Islands, it is essential to seek professional services from a fund administrator like Bolder Group. Our team consists of global and local industry experts equipped with the resources and expertise needed to penetrate the fund market in the Cayman Islands.  

Get in touch with us to set up a fund today.

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The fund management sector of Hong Kong is robust by many measures, which calls for the need for fund administration and understanding of new fund structures.  

According to the Asset and Wealth Management Activities Survey 2020, which was released by the Securities and Futures Commission (SFC) in July 2021, Hong Kong’s asset and wealth management business continued to experience strong growth last year and recorded a 21 per cent year-on-year increase in assets under management to HK$34,931 billion as of the end of 2020. 

In order to strengthen its position as a centre for asset and wealth management, Hong Kong continues to make efforts. This initiative ensures that Hong Kong will continue to be the preferred entryway into Mainland China.  

Fund Regulatory Framework in Hong Kong 

The Securities and Futures Ordinance (SFO) serves as the primary regulatory framework for fund management in Hong Kong. The SFO gives the Hong Kong Securities and Futures Commission (SFC) the authority to oversee fund management operations, collective investment schemes (funds) and securities offerings. The Hong Kong corporate structure is governed by the Companies (Winding Up and Miscellaneous Provisions) Ordinance (CWUMPO). 

The SFC is the principal regulatory body for approving retail fund products, licensing fund managers and monitoring intermediaries’ behaviour in the selling and marketing of fund products. The SFC publishes several manuals, rules, guidelines and frequently asked questions (FAQs) that outline the obligations and anticipated standards of behaviour for Hong Kong-registered fund managers and other market players, like fund administration service providers. 

Retail funds must be authorised and comply with the SFC Code on Unit Trusts and Mutual Funds, while licensed fund managers must also abide by the SFC Fund Managers Code of Conduct (FMCC) and the SFC Code of Conduct for Persons Licensed by or Registered with the SFC. 

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The Different Fund Structures in Hong Kong 

With more than 2,000 retail investment funds approved by the SFC, Hong Kong is a global asset management and fund distribution hub. The main types of fund structures in Hong Kong are unit trusts and corporate funds. 

Hong Kong allows the establishment of funds either in corporate form as open-ended fund companies (OFCs), Limited Partnership Funds (LPFs) or in the form of a unit trust. Hong Kong-based funds can be established either domestically or abroad, whether they are offered publicly or privately. 

Open-ended Fund Companies (OFCs) 

Given the prevalence of corporate fund structures, a large number of the funds offered in Hong Kong were offshore before the OFC regime was put in place. Typically, these offshore entities were Cayman Islands-exempt companies. OFCs were implemented on 30 July 2018. 

In September 2020, significant changes were made to the private OFC regime, lifting the limitations on the kinds of assets that private OFCs might invest in and allowing intermediaries registered or licensed for Regulated Activity Type 1 (dealing in securities) to operate as their custodians. The lifting of investment limitations is especially welcome and is anticipated to attract more private funds to establish Hong Kong as their domicile.  

Limited Partnership Funds (LPFs) 

On 31 August 2020, the Limited Partnership Fund Ordinance (LPFO) came into effect, allowing for the registration of qualified funds as limited partnership funds (LPFs) in Hong Kong.  

The Hong Kong government has declared that it wants to increase Hong Kong’s competitiveness so that it can become a preferred location for foreign asset and wealth managers in Asia, an opportunity for fund administration firms and other related service providers. The passage of the LPFO is a very positive move in this regard. 

According to the LPFO, the LPF features are consistent with those of limited partnership structures in other countries. The LPFO includes clauses that: 

  • allow flexibility in capital contributions and profit distribution; 
  • permit the parties to an LPF to freely negotiate in accordance with their commercial purposes; 
  • make registration with the Registrar of Companies simple; and 
  • provide a simple and economical dissolving mechanism. 

The limited partnership is the ideal structure for private equity (PE) funds, as Hong Kong’s current Limited Partnership Ordinance does not offer a favourable environment. Fund managers have been discouraged from forming PE fund vehicles in Hong Kong due to the partnership’s restrictive requirements regarding capital contributions and profit distribution, lack of contractual flexibility and complicated dissolution procedure. These issues are addressed by the LPFO. 

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Why You Need a Fund Administrator in Hong Kong 

The fund management industry in Hong Kong is one of the fastest expanding sectors, and its growth is proving to be crucial for the country. Long-term consolidation of Hong Kong’s position as one of Asia’s financial hubs would require a concerted effort to examine the potential and challenges facing the sector.  

Considering the current various fund structures in Hong Kong, a fund administrator can ensure that the funds adhere to all applicable regulatory requirements and that clients have access to the most recent information regarding the performance of their investments. 

Moreover, the outsourced fund administration services relieve Hong Kong fund managers of a focused oversight on valuation assessment. Thanks to this, fund managers have more time to concentrate on portfolio management and selecting the best investment opportunities. 

Bolder Group’s fund administration services in Hong Kong 

Bolder Group’s dedicated fund administration staff in Hong Kong provides private equity and personalised fund services to clients in the country and other neighbouring jurisdictions. Our team consists of industry experts with extensive knowledge and experience in Asian funds. 

We have accumulated a wide range of fund strategies and fund structures with years of experience in fund administration. 

Let’s talk about your fund administration needs, get in touch with our office in Hong Kong today.  

Fund administration, an industry that has grown significantly over the years, is worth USD8 billion to USD 12 billion. That was magnified in the aftermath of the 2008 global recession, as more alternative investments soared to popularity. These investments included hedge funds, real estate, fund of funds, mutual funds, pension funds, private equity and venture capital. This fund inflow in the said sectors brought more business to the fund administration industry.

What is fund administration? 

Fund administration is an outsourced service where the provider executes middle-office and back-office functions. Fund administrators independently verify the fund assets and valuation under a manager’s portfolio.

Fund administrators provide administrative solutions to asset and fund managers. In doing so, the managers have more time and space to focus on portfolio growth and management.

Below is an overview of the functions of a fund administration service provider.

  • Processing of trade and related transactions
  • Processing of withdrawals, transfers and switches
  • Processing of daily corporate action
  • Preparation and maintenance of book of accounts (via external record compilation and verification, portfolio pricing, net asset value calculation and expense accrual calculation)
  • Processing of client (investor) documentation
  • Preparation and maintenance of documents like investor register
  • Trade and position break reports
  • Ad-hoc trades and position activity reports
  • Preparation of financial statements
  • Preparation of regulatory reporting
  • Profit and loss reporting
  • Tax reporting
  • Computation of track investments
  • Computation of performance fees
  • Calculation of the net asset value (daily, weekly, monthly)
  • Distribution of dividends
  • Distribution of investor statements and communication
  • Tracking of return of capital and return rates
  • Provision of share registrar and transfer agent

Apart from these functions, fund administration firms also provide fund formation solutions. This specific service includes:

  • Expert consultation on the ideal type of fund structure to be set up
  • Drafting of constitutional documents for the fund
  • Corporate services, such as bank account opening, brokerage accounts, tax registration and business registration, including obtaining security identifiers

Bolder Group’s fund administration solutions also comprise legal services to help its clients in the organisation of board and shareholders meetings where and when required, submission of reports, preparation of statutory documents, review of corporate legal documents and assistance in liquidation and re-domiciliation. Our fund administration firm has an in-house team of legal experts from all over the world.

Compliance is also a core part of a fund administration service. With the increasing and more complex regulatory requirements in different jurisdictions (especially in major financial hubs), fund managers should take advantage of the compliance solutions offered by third-party fund administration specialists.

Non-compliance with regulatory frameworks may result in consequences for the investors and managers, as some nations consider non-compliance (especially with AML laws) a criminal offence.

Fund administration also includes know-your-customer and anti-money laundering compliance services through the appointment of an anti-money laundering officer and the following:

  • Establishment of internal AML protocols
  • Set up of a sanctions list for screening purposes
  • Maintenance of systems that identify person, activity or country risks
  • Application of a risk-based approach in monitoring financial activities

The abovementioned are the composition of a traditional fund administration service. However, with the rise of digital assets, fund administration expanded to servicing cryptocurrency funds. Due to its digital nature, crypto fund administration relies on technology. Crypto fund administration service includes the following:

  • Crypto fund set-up and launch
  • Processing of transactions through exchange ledger and wallets
  • Preparation of books of accounts
  • Computation of interest charge
  • Calculation of profit and loss
  • Reconciliation of hot/cold wallet transactions
  • Compliance and reporting services as required by regulations

Fund administration: Assets in focus

Specific fund administration solutions differ based on the type of fund structure. There are different types of assets for which administrators provide fund services. Bolder Group, for example, arranges administration for hedge funds, PE and VC funds, crypto funds, real estate funds, managed accounts and fund of funds.

Amongst these, the basic services are reporting and compliance solutions, tracking of investments and NAV calculations. If a fund administration firm offers end-to-end solutions, it can assist in fund setup and legal and corporate matters.

Hedge funds

Third-party hedge fund administrators oversee about 80 per cent of all hedge fund assets under management worldwide, according to PwC. Hedge funds gained popularity in the 1990s and steadily grew until the 2008 financial crisis, recovering only in 2013. Data from Statista shows hedge funds are valued at USD4.5 trillion in Q32021; the largest share of hedge funds are represented by hedge fund managers in the US, presenting a massive opportunity for administration firms in the country.

Hedge fund administration is poised to grow in the coming years as more regulatory reporting is required from managers and investors. These directives include the Alternative Investment Fund Managers Directive of the European Union and the USA’s Form PF.

PE and VC funds

PE and VC fund administrators assist clients with portfolio and SPV accounting, payment services, audit and tax support, waterfall, capital distribution, compliance requirements, etc.

Increasing and stronger regulations in PE and VC funds have also presented more responsibilities to managers and investors. In the US, for example, the Securities and Exchange Commission proposed new amendments to the Investment Advisers Act of 1940 to underscore the transparency and efficiency of the sector, which, according to the SEC is valued at USD18 trillion.  

‘Private fund advisers, through the funds they manage, touch so much of our economy. Thus, it’s worth asking whether we can promote more efficiency, competition, and transparency in this field’, said SEC chair Gary Gensler.

On the other hand, figures from data analytics firm Factset showed that about USD$612 billion in VC funds were invested in 2021 worldwide – more than double the figures in 2020. This growth, especially in emerging markets like Latin America, Africa and the Pacific, fueled increasing valuations of VC funds, managers of which should take advantage of outsourcing fund administration functions due to the cash inflow. Last year, about 500 VC-funded companies were welcomed to the unicorn club, including startups from Brazil, Israel and Africa.

Crypto funds

Cryptocurrency transactions bypass traditional financial institutions and are not regulated by any governing authorities. However, due to the market’s volatility and the recent crash, governments and other regulatory bodies intend to impose more regulations on cryptocurrency transactions, making crypto fund administration more relevant to the virtual asset ecosystem.

For example, the EU seeks to control the crypto market via its Markets in Crypto-assets (MiCa) law, set to take effect by the end of 2023. A proposal to tax cryptocurrencies in the Philippines has been forwarded to the new administration. Hong Kong’s Securities and Futures Commission introduced a licensing regime for virtual asset service providers.

In the administration of crypto funds, a provider must have proven experience in trading and arbitrage strategies, cold/hardware wallet management and initial coin offerings, so they can provide effective solutions to crypto investors and managers.

Real estate funds

Bolder Group monitors capital commitments, drawdowns, carried interests and complex waterfalls as well as provides investor reports to its clients in the real estate industry. These administration services are tailored to whatever type of real estate funds the client handles — whether ETFs, real estate mutual funds or private (for high net worth individuals).

Real estate fund sponsors are generally expected to provide detailed investment information to investors, who are typically hands-off and leaving the day-to-day fund management to the sponsor. 

Managed accounts

Liabilities lie in the hands of money managers handling managed accounts of, usually, UHNWI. Money managers, who may also act as fiduciaries, are expected to invest and act based on the goals and risk tolerance of their clients. A lot of considerations come into money management; for instance, portfolio diversification, securities liquidation, tax concerns, P&L reports and daily valuations, amongst others.

Some of these functions are left to third-party providers of middle- and back-office jobs. Fund administration services can be customised based on the needs of the managers and the goals of the managed accounts, including, but not limited to, customer due diligence and other compliance requirements, valuations, tax reporting, etc.

Fund of funds

Managing fund of funds (FOF) may be complex due to its structure, and even more so if the administration is done in-house. When working with fund administrators, FOF managers can benefit from outsourced AML and KYC measures on new fund investors, report and financial statements preparation for shareholders and other investors, FOF price comparison reports as well as monitoring using fund technology.

The primary duties of fund administrators 

The previously mentioned functions of fund administrators illustrate an overview of what the services providers can offer. Generally, fund administrators make it easier for fund managers to focus on their portfolios by taking charge of back-office functions.  

The following section goes into detail about the primary duties of fund administrators. 

Fund accounting

An important facet of fund administration is fund accounting. This system of accounting involves the tracking of an allocated amount of funds for a specific function in an organisation. It also touches on the maintenance of the financial records and documents of a fund. 

Fund administrators are responsible for the accounting of investment portfolios such as securities, investment holdings and capital allocations. With this, the portfolio and investor activity are professionally managed. Moreover, fund administrators record the changes in the values of instruments that constitute an investment fund. This serves as a basis for the net asset valuation, one of the other primary duties of fund administrators. 

As opposed to general accounting, fund accounting is not focused on determining whether a structure is profitable. It is more focused on tracking the inflow and outflow of funds. Fund accountants generate information to establish how resources are utilised. Moreover, fund administrators conduct the effective and proper use of such resources based on allocation. Overall, its main purpose is to enhance accountability. 

NAV calculation

The net asset value or NAV represents the value of a certain fund, which is typically presented in a per-share unit. Its value provides an insight on the performance of a fund in a particular timeframe.  

Fund administrators are tasked to determine the net asset value of a fund which helps investors assess a fund or portfolio. Organisations also use the calculated NAV to decide on the number of shares that will be issued to investors and the amount of cash paid to investors. 

Its various applications in an organisation’s financial decisions emphasise the need for the expertise of a fund administrator.  

Investor services 

Fund administrators provide the information sought out by investors to evaluate a fund. They ensure that clients obtain the necessary particulars regarding a funds’ valuation and performance.  

With the growing demand for impactful investment opportunities, fund administrators assist in investment activities that ensure transparency and inclusivity. For instance, ESG investments are becoming a crucial aspect of portfolios. Fund administrators facilitate the integration of the ESG factors into investments.  

Fund administrators provide specialised services to clients in order to alleviate concerns brought by economic challenges. Read more on how fund administrators can help with investment funds during a recession here

Moreover, fund administrators warrant compliance with regulations and requirements. This is one of the areas where the various compliance solutions of a fund administration firm come into play.  

Compliance solutions

Fund administration specialists ensure compliance with every regulatory framework concerning funds and investments. Fund administrators fulfill the rigorous processes needed to meet compliance, reporting, and transparency requirements internationally and within the jurisdiction. 

Fund administrators provide compliance solutions to both traditional and digitalised fund structures. As various fund structures are continuously being set up in the market, applicable laws and regulations are also created. The regulations for each of the fund structures may also differ for different jurisdictions. Fund administrators take up the burden of keeping track of such crucial aspects of fund management.  

An important segment of corporate compliance is with regards to anti-money laundering (AML) regulations. We have discussed how AML non-compliance and poor practices can affect an organisation here

Financial reporting

Financial reporting involves an analysis of financial data to determine the financial and operational standing of an organisation. This helps managers identify risk areas. What’s more, contains information that potential investors typically want to assess.  

Financial reports are required by authorities and are normally required by an organisation’s shareholders. Fund administrators provide financial reporting services in accordance with clients’ needs, GAAPs, IFRS, and other local accounting standards, practicing transparency and data-driven decision making.  

Tax support

Apart from financial reports, fund administrators also assist in an organisation’s tax obligations. Different fund structures and tax authorities call for distinctive tax reports. Fund administrators assist clients to generate information, accomplish tax forms and deliver requirements necessary for the operations of an organisation. A fund administrator has expertise in dealing with global tax requirements. 

Domiciliation services

Fund administrators have extensive knowledge and resources needed to successfully domicile in a competitive market. They assist in selecting the optimal corporate vehicle in a specific jurisdiction, as well as fulfilling the relevant regulatory and legal processes. 

Fund administration professionals also provide areas to carefully consider when deciding on domiciliation. Apart from the legal restrictions and regulations, factors such as fiscal obligations, local investor sentiments and set-up period are addressed.  

Legal services

Fund administration companies also provide legal services to enable fund managers to focus on their operational activities. Fund administrators work on much needed areas such as corporate governance and regulatory filing tasks. Whenever there are changes within funds, it is the duty of fund administrators to assess and highlight areas of concern.  

Bolder Group, for instance, offers legal services such as preparation and filing of statutory returns, assessment and arrangement of corporate legal documents, sending in reports to authorities, amongst others.  

Ultimately, fund administrators create a system of efficiency and comprehensive adherence to rules and regulations applicable to the organisation through their legal, accounting and corporate services. This leads to minimal exposure to legal risks and liabilities. 

Working with fund administrators: the benefits

The increasing complexity of middle-office and back-office functions amplifies the need for fund administrators. Trends involving fund administration, like digitalisation and stricter compliance regulations boost the demand for specialised services and knowledge in fund management.

Acquiring the services of fund administration firms has its benefits.

Focus on your core product offerings and services

Acquiring an outsourced fund administration service helps take away some of the administrative burdens of fund managers. The abovementioned functions of fund administrators can be outsourced to assist, not only in ensuring the execution of fund administration activities, but also in saving the time being taken away from working on non-core functions.

With outsourced fund administration, managers and investors can direct their efforts in the development of their own asset and fund strategies and activities. Fund administrators can ensure timely, quality and relevant middle- and back-office functions on behalf of its clients. In addition, fund managers can maximise this outsourced service as fund administration firms provide thorough attention and expertise in crucial administrative tasks.

Gain insights from experts

Third-party fund administrators can provide the necessary guidance and insights in addressing the needs of clients. May it be in terms of administrative solutions, fund formation, legal services, compliance, among other things, efficiency and quality of work can be ensured with professionals that work on a specific function.

As established beforehand, regulatory requirements are building up and becoming more complex. Fund administrators specialise and customise compliance services to clients according to regulatory changes. Diverse requirements in distinct regions can be attended to by fund administration agencies. In short, experienced fund administrators could fill in the knowledge and skills gaps potentially present in a non-specialised in-house team that would execute these middle- and back-office jobs, especially in terms of legal compliance.

Establish cost-efficiency

The resources and workforce needed to execute back-office functions can be allocated to other business units by having fund administrators. Fund administrators can help do away with the costly expansion and development required to obtain a professional team to manage key fund administration responsibilities. Moreover, outsourcing such services could minimise the need to develop in-house tools, technology and systems.

Fund administrators minimise potential errors and legal issues, essentially preventing unnecessary costs. Professionals such as AML officers ensure compliance with regulatory and reporting requirements.

Bolder Group, for instance, has various regional offices that cater to the local fund managers and investors. Moreover, our international teams offer several corporate, private, funds and governance services tailor-fit to each sector and jurisdiction.

Working with fund administrators can be a favourable option as the composition of fund administration services continues to grow. Being able to focus on core responsibilities, obtain professional solutions and services and achieve cost-efficiency in a challenging and fast-growing facet of a business with fund administrators could help achieve operational advantage.

Who benefits from fund administration services?

Fund administration involves various services that ultimately reduce administrative burdens and achieve operational efficiency and growth. For instance, Bolder Group’s fund administration services are mainly catergorised into corporate, private, funds and governance.

With this, various entities can make use of and benefit from such services. Let us determine some of the entities that may benefit from each of the fund administration solutions.

Market entrants, new corporations, … 

A fund administration professional can administer corporate services such as business and market entry support, company structuring, and secretarial services, to name a few. A market entrant could benefit from specific business and market entry support functions which involve the provision and search for employees, managers and directors, payroll services, office solutions, amongst others.

Parties who are looking to establish a company or a Special Purpose Vehicle (SPV) can be assisted by fund administrators. Moreover, corporate entities, especially those that are newly formed, can avail of services that enable systematic and secure fulfillment of corporate requirements.

Entrepreneurs, families and family offices, … 

Private fund administration services pertain to functions that address internal business concerns and obligations. With this, entrepreneurs who are looking to manage their finances and operations could benefit from such services. Entrepreneurs can turn to fund administrators to manage these tasks with confidentiality and made to fit their personal needs.

Families and family offices likewise benefit from fund administration services. Fund administrators have the expertise in advising these parties in administering family business functions such as succession planning, private equity structuring and family meetings, to mention a few.

In addition, fund administrators can assist estate holders in managing their wealth and asset portfolios, as well as organising their philanthropy endeavours. Private entities, thus, derive benefit from the tailor-fit services of fund administration specialists.

Asset and fund managers, investors, … 

Fund administrators provide services to different types of asset managers. May it be hedge fund managers, real estate managers, private equity managers, or private equity fund participants, to name a few, fund administrators carefully analyse and deliver the needs and goals of these managers. They also take on essential responsibilities for asset and fund managers for them to focus on their core offerings.

Similarly, investors benefit from the professional services of fund administrators. Investors in cryptocurrency and funds, for instance, can acquire timely and relevant information regarding their investment portfolios. Fund administrators can also provide accurate reporting and trading strategies to these investors.

Brokers, art dealers, realtors, … 

Fund administration professionals administer corporate governance services which cover facets such as compliance and KYC/AML services through consulting, regulatory reporting and filings and officer provision services, amongst other services.

Other parties utilise corporate governance services aside from the abovementioned corporate bodies, other investment vehicles, asset and fund managers, and private entities; brokers, art dealers, realtors also derive benefit from the governance services of fund administrators.

Brokers and realtors administer trades and exchange of investments. Consequentially, they would need to comply with relevant regulatory systems such as AML, terrorist financing, auditing requirements, amongst others. This also applies to those who participate in the art market as they deal with a number of clients and valuable assets.

The complexity of regulations and other compliance requirements in their field of work can be accommodated by fund administrators. With this, risks associated with non-compliance are minimised. 

Fund administration professionals have numerous services available for these parties to address their needs and use them to their advantage. A fund administration professional has the resources, knowledge and expertise to assist any of these entities. If you are looking for a fund administration service provider to conduct your corporate, private, fund and governance needs, contact the Bolder Group team.

Fund administration technology

Before technology took over a significant part of the fund administration process, clients used to request for a physical copy of a summarised report. But with digital advancements, now, they prefer real-time access and overview to relevant data that would help them make informed investment decisions.

This option is readily available when fund managers partner with third-party fund administration firms. Usually, these companies are equipped with cutting-edge financial technology that helps them automate the workflow, digitise documentation and secure data.

Industry experts see rapid digitalisation as one of the key trends shaping the fund administration industry this year and in the coming years.

How does technology shape fund administration?

Cloud capabilities

The Covid-19 pandemic has magnified the need for a better digital workflow, as entire departments have begun to shift to part-time or full-time remote working. Now, while cloud capabilities have been around for years to support fund administrators’ need for real-time data accessibility, fund administration firms have turned to more sophisticated cloud network systems to ensure their offices from around the world collaborate efficiently. The cloud provides fund administration companies with a central platform that can be used for fund accounting or transfer services and more.

Investor or fund manager portals

In some cases, fund administration companies outsource software that allows their clients to access their underlying fund data and investor statements. These programs are designed to safekeep information about transactions, net asset values, contract notes and other files that contain particulars needed for investment decisions.

Some fund administration firms have an in-house software development team who designs such portals, so that fund and asset managers, as well as investors, can retrieve data from a single platform. In-house developed programs are advantageous in the sense that no third-party providers can enter this portal, thus making the data more secure.

Forensic tech

Compliance solutions are key facets of fund administration services. Fund administrators have adapted forensic technology to make their compliance service workflow more efficient, ensuring accuracy and enhancing the end-to-end process, as well as transparency protocols.

With forensic technology, fund administrators will be able to effectively capture and analyse data for KYC, CDD, CFT or AML checks. What’s more, it allows data to be accessed in a fraction of time, as opposed to sifting through hard copies of needed information. This especially gives compliance officers time to focus on the documents instead of looking for relevant data.

Due to the volume of data from external and internal sources, it is crucial to have updated technological infrastructure that will allow for transparency, accuracy and accessibility. Click this link to know the technology we use at Bolder Group.

To know more about fund administration and our services, contact a Bolder office near you.

Bolder Group is an independent global organisation providing fund administration services in the Americas, EMEA and Asia. 

bolder group logo - independent global fund administration firm

In October 2021, AMS Financial Group and Circle Partners partnered up to create an independent global fund administration firm catering to multiple locations in major financial hubs all over the world. The result? Bolder Group. The objective? To break barriers at the base of business.  

Fund administration firm Bolder Group has 13 locations, spanning from the Americas to Europe to Asia. And it continues to grow and evolve along with the ever-changing financial landscape. Our company’s philosophy is to be informed of the latest developments in the financial world, so we can keep our clients and partners involved and in control – at all times. This is how we, as a fund administration firm, work to meet clients’ needs and satisfaction.  

Fund administration is an art of its own. That is why a firm offering this kind of service takes a load off the back of fund and asset managers. Why are fund administration firms important? For one, fund managers want to stay laser-focused on their clients’ needs and portfolios. Doing that whilst taking care of the back-office matters is, to say the least, a tough challenge.  

Why do you need a fund administration firm like Bolder Group as a partner?  

The first reason you should outsource your fund administration solutions to a firm like Bolder Group is to ensure you can focus on core competencies. Not only will this save you time, but it will also save you from tons of non-revenue earning responsibilities. If you choose to do fund administration on your own, instead of hiring a firm to do it on your behalf, you will need human resources, dedicated office space and technology.  

The common assumption is that outsourced solutions are more expensive, but in fact, partnering with a fund administrator is a more practical solution than performing this task in-house. Considering economies of scale, fund administrators usually cater to multiple clients, through which you get a cost-effective yet high-quality service. 

Plus, with a fund administration firm as a partner, you will be free from the pressures of reports and compliance, the complexities of NAV calculations and data management.  

A top-notch fund administration service also requires updated technology that the firm can use for automated process flows, data management and analysis, investor portals and know-your-customer/anti-money laundering procedures. Bolder Group continuously invests in technology to fully take advantage of digital processes.  

Our firm, Bolder Group, provides 360 fund administration services that will free you from middle and back-office responsibilities, so you can spend your time growing your clients’ and investors’ portfolios.  

Our global solutions

We provide clients with our corporate, private, funds and governance solutions.  

Corporate Solutions 

Our corporate solutions include company & SPV structuring, to help you stay informed of regulatory and compliance concerns. Bolder Group has an extensive experience in SPV structuring and company management for alternative investment managers and capital market actors to make sure our clients are in good standing with local and international regulations.  

We also assist our corporate clients with our seamless market entry solutions, offering a private space in Hong Kong via The Point, project implementation and management and pension scheme. We can also help you with payroll services, temporary employee solutions and relocation needs. In particular, we help companies enter the Dutch market through Bolder Launch.  

Our corporate & secretarial services cover account filings and preparation of board and annual meeting documents, amongst others. Our secretarial expertise will reduce your administrative burden.  

Our fund administration firm also provides you with office accounting solutions tailored to your needs, according to local accounting standards. These are part of our accounting services: periodic management reporting, consolidated reporting, interim financial reporting on demand and coordination and management of audit process.

Private solutions 

We don’t only offer fund administration services to firms or corporations, but to private clients as well. We help them incorporate companies in foreign jurisdictions and offer directorship and management services through our company formation & management services. 

We can also structure projects to protect and enhance your assets through our estate & multigenerational planning. Bolder Group is a fund administration firm with a very reputable name in providing trust services, along with financial reporting.

Bolder Group helps private clients navigate the complexities of running businesses and corporations through family office solutions, philanthropic strategies and governance solutions. These services will not only protect your wealth. Equally important, they ensure your family legacy is preserved. Furthermore, we keep your books of accountants aligned with relevant local and international regulations through our financial accounting & reporting services for private clients.  

Fund solutions 

As a fund administration firm, we understand the challenges of fund management and complex reporting duties. With our fund solutions, we can administer your hedge funds, PE & VC, cryptocurrency funds, real estate funds, fund of funds and managed accounts.  

Our fund solutions include accounting, NAV calculations, fund formation, legal, domiciliation and treasury. In addition, we help in bank account opening, AML procedures and investor services, amongst others. In terms of real estate funds, we monitor commitments, drawdowns carried interest and waterfalls. On cryptocurrency, our services include set-up, high-frequency trading strategies, full transaction ledger, cold and hardware wallets in-kind capital transactions, amongst others.  

Governance solutions  

Bolder Group’s range of fund administration services also includes governance solutions for firms, that look for cost-efficient and effective compliance methods.  

We offer outsourced KYC compliance services for long-term KYC sustainability for our clients, which include consultation, KYC health checks, policy establishment and end-to-end project management. We have a KYC platform and a money laundering back office that do CDD, AML, PEP verification, UBO verification, record-keeping and compliance reporting & notification. This is also thanks to our in-house experienced and professional AML compliance officers, ML reporting officers and deputy MLROs.  

We also provide you with directorship & office services, including the appointment of the president, vice-president, treasurer, secretary and directors. We oversee registration, board meeting coordination and bank account management.  

Bolder Group offers Automatic Exchange of Information (AEOI) solutions to clients, too, to help them ensure business sustainability and stability, all whilst reducing administrative and financial workload. We offer reporting services related to FATCA, CRS, MDR/DAC6 and others, country-by-country.  

Global fund administration firm 

Bolder has thirteen locations in financially strategic hubs. Our offices can give you professional and personalised assistance for your business’s or firm’s fund administration needs, with our goal in mind: to add value to business and society in a bolder way.  

Reach out to one of our offices today to learn more about what we can do for you and how we work.  

logo of bolder group - global fund administration firm

Egyptian fund managers expressed confidence about the local stock market, boosting the financial market’s status despite expectations of a higher inflation rate this year. This was the result of a March 2022 survey by the Egyptian paper newspaper Daily News Egypt, when it asked asset managers and industry experts about their top concerns this year in terms of the stock market, global fund, trends and assets and investments.  In addition, survey participants expected the Central Bank to pursue a stringent monetary policy. Enter: fund administration in Egypt in the middle of a booming fund market.

Booming fund market in Egypt and the role of fund administration  

Before the COVID-19 outbreak, Egypt was one of the fastest expanding emerging markets. The Egyptian government was making progress on economic reforms, and while there were still many challenges ahead, Egypt’s investment climate was showing an upward trend. And then the Russian-Ukrainian war broke out again earlier this year, which significantly affected the global financial markets and resulted in inflation and supply chain disruption.  

However, Egypt still has potential for companies looking to expand beyond the developed, mature markets of the northern hemisphere since it was one of the few economies in the world that continued to expand throughout the pandemic, along with China. 

The result of the abovementioned survey indicates that the participants are expecting a surge in the local investment funds sector. This also shows a greater need for fund administration in Egypt to offload back-office jobs and compliance and regulatory burdens for PC & VE managers in the emerging market.

Aside from this, asset managers also expressed their views on the Egyptian Exchange (EGX) and the future of interest rates. 

Photo from Freepik by Olhasolodenko

The Egyptian Exchange 

The Egyptian Exchange is an established international stock exchange. In Egypt, exchanges in major cities Cairo and Alexandria are both regulated by the same board of directors and use the same trading, clearing and settlement processes. They want to create a high-quality market to serve their customers by using the advanced tech and establishing fair markets with great transparency and efficiency. 

Trading volumes on the Egyptian Exchange increased over the last year, reaching EGP 1.003 trillion (including shares, bonds, and OTC deals), up from EGP 689.9 billion in 2020. 

Possibilities for investment 

In Egypt, the Arab world’s most populous country, there has been a largely unnoticed but significant trend in entrepreneurship. Much of this has occurred in the country’s two major economic centres, Cairo and Alexandria, but there are also indications of a broader and more inclusive trend. 

Asset managers enumerated dozens of opportunities to invest in 2022, on top of stocks and cash funds, new initial public offerings (IPOs) such as the Macro Group, investment in gold, infrastructure, agriculture, the banking sector, non-financial services, health, fintech, startups, heavy industry, real estate, food and long-term investments. 

Photo from Freepik

Significant challenges to overcome 

Since 2016, Egypt’s government has been implementing the Economic Reform Program that includes financial and monetary reforms with the goal of achieving rapid and sustainable growth rates as well as inclusive development. This program has provided radical solutions to structural economic problems that have plagued the Egyptian economy for many years. 

Many more multinational corporations are interested in setting up operations in Egypt because of the numerous opportunities offered by the country and the government’s reform agenda. However, there are still significant barriers to doing business in the country. 

Despite the recent reforms, the country’s tax and regulatory framework is still far more complicated than that of other countries in the region. Egypt, for example, has a variety of taxation systems, and businesses must file separate filings for corporation, property and stamp duty taxes. 

Labour laws and the social security system of the country are also complicated, and dealings with the administrative authorities are further hampered by the fact that Arabic is the sole language used in official government portals for tax, social insurance, customs and the commercial register. 

Companies considering entering Egypt would be wise to obtain assistance from experienced, local experts who provide top-notch fund administration services before commencing on their venture, as mistakes made early in the business startup process are difficult, expensive and time-consuming to correct once the firm is up and running. 

Bolder Group in Egypt 

Bolder Group is committed to tapping emerging markets that show promising investment opportunities. We found an immense opportunity in Egypt. This year alone, Bolder Group has gone to the Arabic country various times. Last May 30, we organised a seminar for VC and PE fund managers on Legal Structuring via the Benelux. A mix of industry experts went to talk about startups, corporations and fund administration in Egypt.  

Egypt has a thriving fund market that requires fund administration services. Bolder Group has a range of fund administration solutions for managers and capitalists with businesses in Egypt. We are well-versed in closed-end structures, their finite life cycles and the specific legal and reporting requirements. We work with private equity fund clients from investment to exit, assisting them with a variety of fund administration and support services such as portfolio accounting, NAV production, SPV accounting, capital calls/distributions, Waterfall, carried interest calculations, AML/KYC compliance, payment services, and audit & tax support. 

Let’s talk about your need for a fund administration service in Egypt. Get in touch with us.  

The global fund administration services industry was worth at least $8 to $12 billion as of August 2021. The market plays a significant role in keeping the funds and related information in order, as well as regulatory and legal obligations. Not only do fund administrators offer accounting or reporting services, but also compliance, reporting and directorship solutions, amongst others.

For fund managers and asset managers, it can be challenging to run in-house middle-office and back-office operations, which is why they partner up with third-party providers of fund administration services (whether those that offer local or global solutions). This way, the managers can focus more on their portfolio and less on the paperwork and compliance matters.

As we are halfway through 2022, let’s see the key trends that have been shaping the global fund administration service industry.

One: rapid digitalisation of the global fund administration service industry

global fund administration services: digitalisation

Looking back, the world had already been prepping for massive digitalisation from across industries. However, the process was sped up as a necessary response to keep businesses and operations running amidst lockdown orders at the height of the Covid-19 pandemic. The industry of global fund administration service is no exception, especially as most professionals were left with no choice but to work remotely.

A recent study commissioned by Funds-Europe found that 54 per cent of fund administrators globally understand that legacy technology is a challenge for the industry. 38 per cent of the same respondents said their company will highlight digital transformation to keep up with the demands of asset managers and other clients.

A fundamental shift in the digital capacity of fund administrators will be crucial in ensuring real-time accessibility, transparency, and security of their clients’ data, activities, investments, portfolios and even trading, to name a few – especially because of huge volumes of data. For providers of global fund administration services, investing in digital transformation is a necessity to survive and thrive.

Moving forward, widespread digitalisation will reduce – or even completely remove – manual labour processes in the middle and back offices, eliminating human errors. Importantly, digitalisation has changed the way compliance is done. For example, it has strengthened remote KYC processes by investing in advanced forensic tech.

Bolder Group’s global fund administration services are in line with the latest technological developments and innovations. We understand the importance of data and easy yet secured access to this. We partnered with some of the most trusted software developers for our fund administration solutions.

Bolder Group also has an in-house team of tech experts who are adept at the latest digital requirements of global fund administration services and are sensitive to our clients’ needs. To know more about the Bolder Group technology, click this link.

Two: The continuous rise of impact-focused investments and funds

global fund administration services: esg focus

ESG is a prominent keyword in the financial landscape. With Elon Musk defining ESG ratings as merely a ‘scam’ and investors and consumers generally preferring impact-focused services and products – ESG seems to be the rave these days. Plus, the Covid-19 pandemic has magnified the need for sustainability and other ESG factors.

But how does it impact global financial services? Like consumers, investors have started to look for partners (fund managers and fund administrators) that execute ESG efforts themselves or, at least, have ESG-related policies in place within their organisation or processes.

More and more organisations have been keenly tracking business entities that are either ESG-compliant or non-compliant; the most prominent are the S&P 500 DJI and Bloomberg Scores.

However, data gaps in ESG reporting must be addressed to ensure complete and accurate reports.

In the first quarter of 2021, the European Union enforced the Sustainable Finance Disclosure Regulation or SFDR, which aims to increase transparency within the financial market in terms of investment ESG risks and opportunities. ‘Amendments and additions to the legislation require financial entities to comply with the SFDR and provide penalties for non-compliance’, according to Bolder Group (Read more here.)

Regulations like the SFDR would mean additional reporting requirements for organisations.

Three: Emphasis on emerging markets and alternative investments

In the past decade, investors and fund managers have shown a steady, if not increasing, interest in alternative investment funds. Historically, only UHNWI and accredited investors bet on AIFs, but after the 2008 recession, investors have grown wiser and looked at alternatives to diversify their portfolios, whilst spreading out risks and enjoying potentially higher returns. Following the 2008 recession, investors became much more into passive rather than active investments, according to the Harvard Business School.

According to industry data tracker Preqin, in 2008, there were about 3,500 investors capitalising on AIFs; in 2018, there were 11,000. In that same year, the result of a Prequin survey showed that 84 per cent of investors plan to commit more capital to alternative assets over the next five years (up until 2023). The tracker forecast from 2020 to 2025 the AIFs sector will see a compounded annual growth rate of 9.8 per cent. By 2026, AIFs under management is expected to be valued at $17.2 trillion.

Higher demand for AIFs mainly drives the growth; each asset class, however, tells a different story.

Despite the recent breakdowns, cryptocurrency is still a rockstar alternative asset class. In 2021, there were 300 million crypto investors; a third of that figure is from emerging market India.

On the other hand, real estate is not so hot. With the Covid-19 pandemic forcing the world to shift radically to the digital space, there was a decline in commercial real estate demand. Experts do not expect previous demand for office spaces to return, as the world has been introduced to permanent hybrid or remote work setups. Nevertheless, things are looking up for the industrial real estate sector, fueled mainly by the rise of e-commerce.   

There are also emerging AIF markets. Investors are looking outside North America and Europe. Fund managers have been paying close attention to investment opportunities in Southeast Asia, China, India and Brazil.

As a global fund administration service provider, our business development professionals continuously look for ‘new new’ businesses, that is, emerging markets that are yet to be tapped. Additionally, Bolder Launch – a subsidiary of Bolder Group – focuses on assisting businesses entering foreign markets or expanding there.

The colossal shifts in the global economy, principally due to the Covid-19 pandemic, will directly affect the way global fund administration services are demanded and delivered. Bolder Group keeps up with the changes, to make sure our clients do too. We provide fund administration services on a global level. With thirteen locations all over the world, our Bolder team can help private and corporate clients, asset and fund managers in terms of fund administration, governance and compliance solutions and secretarial support.

For more information about our full range of services, contact us or visit the nearest Bolder office.

There’s only so many work hours in a day. So whether you’re an entrepreneur who’s just launching a startup or a seasoned investor with big-ticket clients, your time is as good as gold—if not more valuable! We want you to hustle to get from Point A to Point B, hassle-free! With The Point, we get things done for you, so you can do your thing. 

We understand that networking is an important ingredient in a successful business operation; and we offer a venue for you to share your experience and expertise with colleagues and other industry leaders. No worries. We’ve saved a space for you at The Point to meet with your team or business partners. 

With locations in major global investment hubs—Singapore, Hong Kong and the Netherlands—impress your clients and partners with an attractive and strategically located business address. 

The Point offices in Europe and Asia are situated in major financial districts with access to transportation hubs. This makes it easier for your team, partners and clients to find you and your services. 

Our modern offices for lease have all the technical and spatial facilities your business requires:

  • Secure print and copy services
  • High speed broadband internet connectivity
  • Wi-Fi Internet access
  • Direct access to iCloud facilities
  • Back-up IT services 
  • A commercial office space in a prestigious corporate location
  • Various sizes of offices (executive offices, shared offices and co-working desks)
  • Immediate start-up of commercial office
  • Boardroom and meeting rooms
  • Capacity to work in a large professional, shared office environment
  • Dedicated comms room with climate control
  • Car Parking facilities
  • Business Café / Kitchen access

When you don’t have to resolve an internet issue or spend the day figuring out a way to squeeze in your team in a small space—picture how much time and money you can save! With The Point, you don’t need to imagine. 

The Point is a one-stop-shop for your business support needs. We’re more than just an office space; we’re also a team—your teammates. Focus on growing your company, while we support you in: 

If you’re looking for a customised service, pick out a la carte items from our extensive menu! We can work on a business solutions design that will best fit your needs and your clients’.

It’s time to laser-focus on the big picture. We’ll make it a point to handle the little things that build your company, whilst you save time, money and effort. 

Our point? Your business.

Visit or talk to us at

ThePoint is an affiliate of the Bolder Group. It opened its spaces and services in 2022. We have locations in Amsterdam (the Netherlands), Raffles Quay (Singapore) and Wan Chai (Hong Kong).