Fund Administration Services

 

Grosvenor Pirie Fund Administration Service

“With Grosvenor Pirie you have a true partnership approach that is focused on easing your admin burdens so you can concentrate on doing what you do best - improving your business ” Hubert (Dan) East, Founder and Executive Director – Grosvenor Pirie Management Limited.

Grosvenor Pirie can administer your fund, while you concentrate on improving your business.

Our fund administration service is aimed at the small to medium-sized funds, and allows us to tailor specific functionality for your needs.

Our proprietary registry system “Reliance” has been effectively used by Grosvenor Pirie since 1985 for non-superannuation products, and the superannuation module has been in use since 1990.

Reliance has been developed by the integration of several software modules.  The complete package comprises three core modules:

  • Names:  Client Master File
  • Accounting:  General Ledger
  • Imaging:  Electronic Archiving.

and four optional modules being:

  • Super:  SMSF Administration
  • Trusts:  Registry Non Superannuation
  • Super Unit:  Registry Superannuation
  • RIS:   Retirement Income Streams

Reliance also has online reporting functionality:

  • Reliance Reports- fund reporting (Advisors, promoters, managers)
  • INVESTigator Fund- investor interactivity.

Our online products let you or your investors generate up to date reports, such as:

  • A list of your accounts
  • Investor list by advisor
  • Your portfolio asset allocation
  • A list of investments in each of your accounts
  • A summary of transactions
  • transactions listing
  • Unit price listing
  • Investor statement; and more.

Grosvenor Pirie has the experience, technology and processing capability to handle a wide range of assets, covering both traditional and modern financial products.  Our portfolio administration service encompasses most asset classes, including:

  • Cash
  • Bank bills
  • Term deposits
  • Debentures, and other corporate securities as well as government and semi-government stock
  • ASX listed securities (including shares, options and unit trusts)
  • Managed funds (unlisted trusts), both retail and wholesale, and
  • Private unit trusts


Establishing your Fund

Grosvenor Pirie will also assist with the design and establishment of your fund. We can provide the following services:

Party introductions

Grosvenor Pirie may from time to time call upon its extensive range of external experts, such as lawyers, custodians, Trustees, Marketers and graphic designers, who can assist in the creation and promotion of the fund.

Fund set-up

Grosvenor Pirie can also carry out a review of documentation, implementation of operational procedures (so that the fund is ready to operate when required), and can liaise with lawyers, custodian banks and other parties to ensure a smooth commencement for the fund.

Ongoing Administration

Once the fund has been established, Grosvenor Pirie will act as administrator to the fund, overseeing the day to day operations and liaising between the Investment Manager and/or Investment Advisor(s), Broker(s), Custodian and Payment Bank, Auditor, Regulatory Authorities and, if listed, the relevant Stock Exchange authorities.

Fund administration

Grosvenor Pirie provides a high quality efficient back-of-office support service for fund managers, performing daily/monthly/quarterly Net Asset Valuations (“NAV”s) and providing the accounting function for the funds.  We will also handle subscriptions and redemptions, verify fees and commissions due to the various service providers and authorise all payments to be made by the relevant Custodian or Trustee.

Grosvenor Pirie will arrange for the fund's NAV share and share unit or price to be published online, if required.

Grosvenor Pirie will also maintain all of the books, records and accounts of the fund and prepare the audit file for the Auditor.

Investor relations

Grosvenor Pirie deals with investor queries, sending out statements and reports.

Daily, weekly or monthly Reporting

Each business day (or reporting period), Grosvenor Pirie will provide a portfolio valuation report based on the closing prices of the previous day. For offshore portfolios, valuation reports will be close + 2 business days.  These reports will be delivered by E-mail or fax, or available online.

Manager Reporting

An extensive set of reports will be prepared and sent to the manager, Responsible Entity or trustee.  The reports will cover investor activity (new and terminated), compliance, Cash Flow and Income Statements, new investments and redemptions, changes to the Grosvenor Pirie’s Disaster Recovery Plan, complaints (new and ongoing) and other matters as required.

Other reports, such as mandate limit reports, can be delivered on a needs basis.

Member Disputes / Complaints

Grosvenor Pirie will conduct an audit of internal processes, specifically reporting on Service Levels of each fund it administers annually, the results of which will be provided to the manager/promoter of the fund for review.

All new investors will receive a package that will include a copy of the “Complaints Resolution Procedure”.  In the event of any complaint by an investor, it will be processed in accordance with that procedure, which will mirror the procedure Grosvenor Pirie has in place for other products it administers.

What are the costs?

Fund administration fees are normally charged based on the value of the assets held.  However, as some funds are more or less active, Grosvenor Pirie will tailor a price which reflects the amount of work involved.  This fee is charged at a sequential rate that decreases as the size of the fund increases.  There is a minimum charge per annum.

Relationship manager

Grosvenor Pirie aims to establish a personal relationship with its client funds.  You will therefore, have an appointed relationship manager dedicated to your fund, and he or she will be your daily contact point for all your service needs.  They will be available to attend regular meetings with you as well as with the Responsible Entity or Trustee.

Reports will be prepared and provided for each of these meetings with ongoing issues identified and actions tabled.  As required, other senior staff are also available to attend these meetings.