Fund Administration Editing and Proofreading Services

Fund administration is a business where nobody notices the writing until something has gone wrong, and then the writing is all anyone looks at. A net asset value is published, investors subscribe and redeem against it, and if it turns out to have been wrong the questions come quickly: what the policy said, when the error was found, who was told, in what order, and whether the compensation was calculated the way the documents promised. Administrators live in the gap between a manager's instructions and an investor's expectations, and that gap is made entirely of documents.

We edit what fund administrators and their clients produce — service level agreements and administration agreements, NAV calculation and valuation policies, pricing error and compensation policies, investor statements and capital account reporting, capital call and distribution notices, subscription and redemption documentation, transfer agency procedures and anti-money-laundering onboarding packs, financial statements and audit support documentation, regulatory reporting procedures, service reports and client governance packs, business continuity and operational resilience documentation, and requests for proposal from managers selecting an administrator. Our editors check that terminology matches the fund's offering documents, and that operational procedures are written as steps a new team member can follow.

The pricing error policy is the document that determines how badly a bad day goes. Most are written to record that a policy exists: a materiality threshold, a reference to correcting errors, and an assurance that investors will be treated fairly. That is not enough to act on at eight in the morning when a stale price has been found in three days of NAVs. We rewrite these so the materiality thresholds are stated by fund type with the basis of calculation, so the actions triggered at each threshold are listed in order with owners and deadlines, so the treatment of investors who subscribed and redeemed during the affected period is specified separately — including the de minimis below which individual compensation is not paid, and where that money goes instead — and so the notification sequence names the manager, the depositary, the auditor, the regulator and the investors with the timing for each. A policy written this way turns a crisis into a procedure, which is the only thing anybody wants from it.

Everything you send is treated in strict confidence, including client agreements, error documentation and investor data. We are editors rather than accountants, auditors or regulatory advisers, and nothing here is professional advice on valuation or reporting. What we can do is make the documents precise, consistent with the fund's own terms, and usable under pressure.