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Fund administration

Tailored solutions for complex funds

Fund Management has become increasingly challenging in our rapidly evolving, technologically driven business environment where investor expectations are high and the regulatory landscape has become even more complex and stringent.

We, at Deloitte, understand the challenges the fund managers face during fundraising, selecting and managing investments, maintaining and managing investor relationships, and navigating the complex regulatory environment. There are also administrative aspects which are time-consuming but equally crucial to ensure that proper records are maintained and compliance requirements are met. Deloitte supports its clients on these administrative aspects.

Deloitte deploys cutting-edge technology, runs well-developed processes, backed by ISO certification, on robust IT infrastructure supported by a professional and experienced team.

Deloitte provides tailored and reliable fund administration solutions to support the administration of real estate, private equity, and fund of funds in various fund structures such as Limited Partnership, Variable-Capital Company (VCC), Investment Holding Co, Property-Owning Companies, Special-Purpose Vehicles (SPV), etc. We work closely with our fund services colleagues in other fund jurisdictions to support global and regional fund mandates, for example, Luxembourg, Cayman, India, Japan, Australia, South Korea, etc.

How we can help

We, at Deloitte, offer a holistic range of fund administration services by adopting a one-stop service centre as follows:

Application of Fund Management Licence

  • Fund Set-up
  • Fund Launch
  • Registry and Transfer Agency
  • Fund Accounting
  • Investor Reporting
  • Financial Reporting and Filing
  • Tax Compliance
  • Regulatory Reporting

Application of Fund Management Licence

  • Working with our regulatory team who can advise on the relevant fund management license with the Monetary Authority of Singapore.
  • Working with our regulatory team who can manage the process of the fund management application from inception to award.

Fund Set-Up

  • We work with our tax advisory team who will advise on structuring the fund in various fund jurisdictions.
  • We work with our legal team who will assist in preparing all fund documentation such as private placement memorandums, limited partnership agreements, subscription agreements, investment management agreements, etc.
  • Our corporate secretarial team will assist in setting up all fund and corporate vehicles.

Fund Launch

  • Familiarising and noting within the fund documentation for management fees, carried interest, fund investment mandates, etc.
  • Assisting the client with setting up a bank account for the fund.

Registry and Transfer Agency

  • Establish and maintain the register of investors.
  • Updating the Investor Register based on investor subscription agreements.
  • Reconcile, process, and confirm investor subscriptions and redemptions.
  • Track investor commitments and prepare capital calls and distributions.
  • Prepare capital account statements for investors.

Investor Reporting

  • Handle communication with investors.
  • Send capital call notices, capital account statements, and distribution notices to investors.

Fund Accounting

  • Maintain accounting books and records of the fund in accordance with the fund’s governing documents and International Financial Reporting Standards.
  • Record investment transactions in the accounting books.
  • Record accruals and cash transactions, capture banking data, and perform reconciliations.
  • Calculate management and performance fees.
  • Prepare and maintain the waterfall model and carried interest computations.
  • Update valuations based on the fund manager’s instructions.
  • Record loan transactions in the accounting books, and record interest and financing expenses.
  • Review financials from underlying holding companies and SPVs.
  • Perform fund consolidations or NAV (Net Asset Value) pick-ups from underlying entities.
  • Perform quarterly and annual financial closings.
  • Coordinate annual fund audits.
  • Set up fund structures and reporting formats in the fund administration system.

Financial Reporting and Filing

  • Formalise the audited financial statements with the auditors.

Other Tax Support Services

  • We work with our tax team to provide GST and CRS/FATCA services to our clients on their funds.
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