It is all about making your fund attractive to investors.
By using a top tier administrator and a top tier auditor you are demonstrating to investors that your fund is a safe place to invest and that you are backed by a reliable team.
It is not only investors that take an interest in a funds’ administrator, new firms need an auditor to verify their track record and these auditors can take issue if there are no independent third party numbers to review. The audit can also become costly without an administrator as a lack of external data verification can make an audit more difficult to conduct. Working with a top tier fund administrator, such as Apex, that is dedicated to the alternatives industry can also help managers to secure better rates for fund audit – the more credible your administrator, the more reputable your fund becomes. Apex’s global reach and local presence means funds receive local support alongside extensive global backing, this in turn helps position your fund as having robust procedures and processes in place and a safe place for allocators to invest.