Hedge Fund Awards 2016

Hedge Fund Awards 2016 89 Another measure we have developed over the years is a specialized tax team. NAV’s tax preparation service is run by a 35 member team of experienced professionals who possess in-depth knowledge on US tax laws and are dedicated exclusively to tax as it relates to alternative investment funds. The team ensures our clients meet compliance and reporting requirements as per current applicable US tax laws and regulations accu- rately and on time. We have the expertise and capability to constantly monitor tax codes and laws, keeping our clients informed of any new tax laws/regulatory changes which can impact their business or reporting requirements. We provide customized tax reports to meet our clients’ investors’ expectations, with attention to the importance of client data security by transmitting all data in a cyber-secure environment. We prepare, distribute and/or file, quarterly and year-end tax estimates to investors, Federal tax return and Schedules K-1, applicable State returns. Our system maintains tax allocation schedules at investor level, reconcile GAAP and tax reporting and calculates UBTI for tax-exempt investors, payment of foreign partner withholding and produces forms for foreign investors. We also provide assistance to clients in determining various elections such as Mark to Market elections and Mixed Straddle. Furthermore, we have developed the capability of pre- paring State Returns and Composite Returns due to State sourced income, FBARs, PFIC annual information statement as well as 1099-MISC forms. I would also add the very important measure of being ahead of the curve technologically. How does your technology distinguish you in the industry? Technology is the second most critical component of being a successful fund administration group, after client service. From day one a decision was made to create our own proprietary technology platform our clients can rely on for accuracy, efficiency and cyber security. We find it unacceptable to be confined by third-party vendors, at the mercy of their fee increases or unable to provide a bespoke report for a client. I would go as far as saying that NAV is a technology driven fund administrator. We have spent the past 25 years building innovative technology solutions to support our fund administration clients. Our vision from inception was to build proprietary technology flexible and robust enough to service every type of asset man- agement vehicle. This is a challenging task in and of itself, due to the complexity and evolving nature of the industry. We are committed to continually develop and refine our proprietary systems. NAV employs 60 dedicated IT staff who maintain our back and middle office technology comprising of more than 10 different modules. Each module serves its own specific purpose, designed to communicate seamlessly with each and every other module we have developed. This multi-dimensional interaction is very important, as it has enabled us to add new modules over time without integrating workarounds or third-party technologies to support our entire global workflow. Automation is a key component to our global workflow, present throughout the system from the point of initial trade capture, to the delivery of investor statements. The sophistication of this automated workflow is critical, as it produces an efficiency which allows us to offer our clients a library of over 2,000 customizable portfolio and investor transparency reports and very competi- tive pricing, while maintaining a top of the line fund administration solution. We constantly upgrade and refine our systems and processes. We have an interactive dashboard on our web-portal, we have achieved tightened timelines and built-in extra redundancy. Alongside this we invest a significant amount of time researching ways to heighten the effectiveness of our systems for increased speed of reporting without detriment to accuracy and the added benefit of maintaining competitive fees. A good example of automation is what we have designed for our private equity clients. The system is programmed to track commitments, periodic capital calls and receipts, with automated investor notices, and distinguish between different distribution types. We focus on developing these aspects of our business to be in the best position to support future growth, provide improved adaptability to service our clients’ requirements and respond to the ever-changing demands of the financial industry as a whole. What are your plans for the future? Moving forward the NAV Fund Administration Group will continue to invest across all areas of our organi- zation to prepare for significant growth over the next five to ten years. We anticipate this growth will derive from changes in the fund administration landscape, specifically consolidation of fund administrators and technology vendors, downward pricing pressure, and a lack of non-conflicted service providers. We have been thoughtful in the design of our technology and scalable operations model, and we are committed to contin- uously developing the best employees in the industry. We are determined to maintain our exceptionally high client retention rate, by setting expectations we can meet and delivering beyond what we promise. Thank you. How would you like to sum up NAV Fund Administration Group for our readers? Our completely organic growth and 99% client retention speaks to our unparalleled service and competitive fees. As we continue to gain exposure across the market, we have the capability, capacity and redundancy to handle the support required by complex changes in the financial industry, advances in technology and substantial growth in our client base.

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