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Fund Administration
Cortland offers a comprehensive fund administration solution for all asset classes and managed accounts. Our combination of fund administration with custody and asset servicing creates a turn-key solution for new funds focused on bank debt, CMBS, RMBS and other complex instruments. We perform the following functions on behalf of the Fund or Manager:
- Preparation of estimated daily and periodic official Net Asset Valuations (NAV) and portfolio accounting
- Compliance and collateral monitoring
- 1940 Act Exemption - Sec 3(c)(1) and 3(c)(7) and ERISA plan investment limits
- Investment accounting, recording keeping and management fee calculations
- Capital contributions and withdrawals, partnership and new issue allocation tracking
- Registrar and transfer agency services
- Preparation and distribution of Investor Communications
- Audit coordination and support
- Taxation - State and Federal tax filing requirements, preparation of 1065 and K-1s
Fund Formation
Cortland is positioned to service fund managers in the formation of both onshore and offshore investments funds. Utilizing our office in the British Virgin Islands (BVI) and the Cayman Islands, we offer a complete, competitive and professional formation and licensing facility using independent experts to perform legal and accounting services tailored to the needs of each fund client. The fund formation services include:
- Trust or custody bank account solutions
- Formation of the fund company and preparation of fund governance documents
- Preparation of initial fund company audit and drafting of fund offering memorandum
- Preparation and submission of NFA and SEC registration and licensing applications
- Drafting of management and advisory agreements
- For offshore funds - Drafting of memorandum and articles of associatio
Transfer Agency
Seperately Managed Account Services
Cortland is uniquely qualified to provide a turn-key platform of systems and professionals to cover all asset administration, calculation, portfolio analytics, fund administration and reporting necessary to administer a managed account. Cortland will provide seamless custody bank functions through our strategic relationship with a leading custodial bank or reconcile directly with the custody bank of the investor or financing agent. This combination of quality, time-to-market, cost, and security provides managers appointed on separately managed accounts an immediate, efficient and superior advantage in serving their investors.
For each managed account appointment, a single agreement between the asset manager, Cortland and the custody bank governs the administration of the account. All funds and securities movement activities are executed by the bank upon receipt of instructions provided by authorized representatives of the client, which have been reviewed, reconciled and transmitted by Cortland. Cortland acts as the single point of contact for the asset manager, eliminating time-consuming administrative tasks for you and your team. We offer:
- Trust or custody bank account solutions
- Daily position, P&L and transaction reporting solutions
- Targeted analytics and investor reporting solutions
- Fund accounting, valuation, NAV and financial reporting and audit preparation solutions
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