Switching Fund Administrators
Protege Fund Services simplifies the process of fund administrator switching and handles for the client all follow-ups and system back-testing to ensure a smooth transition of administrative services. Our simplified transition process ensures minimal disruptions to your business activities.
Process Flow for Fund Administrator Switching
1. Selecting Protege Fund Services
Clients switching to Protege Fund Services stand to benefit through cost savings, increased compliance and improved fund management services. Clients will discuss in detail with our client representatives in determining their desired requirements and service customization.
3. Service Level Agreement
A service level agreement (SLA) detailing the scope of services will be drafted. The SLA will seek to highlight and affirm the schedule of services, handover process, fee schedule, transfer timetable, contact persons, go-live date and documents to be passed unto Protege.
A non disclosure agreement (NDA) will also be signed at this stage to safeguard all sensitive and confidential data that may be shared by all parties, to which all correspondences will be kept strictly confidential.
5. Fund Administration Agreement
A final draft of the administration agreement (AA) is provided to the client for approval and signing. Upon signing, Protege will assist in the setup of online banking, prime broker and custodian statement accounts to ensure the smooth receipt of data and statements required for fund operations.
7. Historical Data Archival and Audit
Protege will receive and archive historical data to facilitate client audit by maintaining the audit trail. Following which, auditors of our clients can liaise directly with Protege alleviating audit requirements for information safekeep by an independent service provider. In addition, Protege also provides client support via its financial accounting services.
2. Due Diligence
Pre-SLA agreement, Protege will undertake a client risk assessment which should take no longer than 3 business days. The risk assessment would be screened through information platforms such as Worldcheck to facilitate its efficiency and timeliness.
4. Process Harmonisation
Protege will identify and align best practices and integrate customised solutions with the aim of streamlining, decluttering and improving on the efficiency of existing fund operation processes.
Protege will reach out to the current fund administrator up to 90 days in advance of the go-live date to familiarize with the existing process. We will also perform a series of user acceptance testing (UAT) on all on-boarded services to ensure the smooth continuity of fund services.
The go-live date will be the date set for the official handover of all operational processes to Protege. Moving forward, Protege will deliver business as usual administrative services to clients to ensure that operational continuity is observed across all fund functions.