Office Setup:

We were initially requested to perform a feasibility study for a Swiss Multinational looking to create a treasury function in Guernsey. Having received the study, the client decided to go ahead, and engaged Offshore to manage the set up from Guernsey. This involved locating premises and staff and ensuring all relevant infrastructure was in place to enable the start-up to go ahead successfully within the client's timeframe.

Due Diligence Visit and Documentation:

Offshore was engaged by a local Custodian to perform a due diligence visit of a UK based fund administrator, reviewing their processes and controls and documenting any risks or weaknesses.

Performance Fe Reviews:

This project involved reviewing the performance fee calculations across a large fund of hedge fund platforms. Following the identification of a number of issues, we were then tasked with revising the calculations and implementing suitable controls to prevent recurrence.

Private Equity Funds Review and System Migration:

This was a significant project which involved performing a review of the administration of a number of private equity funds, identifying and resolving issues identified and then parallel running and migrating the funds across onto SunGard's Investran software.

Outsourcing Initiative:

This initiative involved identifying and selecting suitable outsourcing partners and performing and documenting due diligence visits. Once the partners had been selected we assisted with fee negotiations and then assisted with the creation of Service Level and Subadministration Agreements.

Fund Administration Processes Review:

Offshore was engaged by a brand name local fund administrator to perform a review of the administration of a large fund of fund platform, identifying and documenting any control weaknesses and providing recommendations to redefine the processes.

Set up of Control and Oversight Function:

Offshore was engaged by a Swiss hedge fund who had recently obtained their designated manager's license to design and implement the controls and procedures to oversee the fund administrators administering their funds. The project involved visiting and reviewing administrators in India, New York and Canada and developing a suite of reviews to oversee the production of a number of daily NAVs.

System Roll Out:

Offshore was engaged to assist with the roll out of a number of bolt-on applications to an existing fund administration system. The project involved migrating entities to a new general ledger and payments application, performing relevant testing and providing support and training to users.