Fund Administration

Choosing the Right Fund Administrator: Key Questions Answered

Get answers to common questions about selecting a fund administrator. As we move past this year’s audit season, learn how SS&C helps you stay audit-ready year-round.

• How do we choose the right fund administrator?

  Choose a fund administrator based on fit, not just cost. Prioritize:

  • Proven experience with your fund strategy and structure complexity
  • Strong audit track record, control environment and technology capabilities
  • Ability to scale with fund growth and new geographies.

• What questions should we ask when evaluating a new fund administrator?

  A thoughtful set of questions is critical to selecting the right fund administrator. Here are several key questions:

  • How do you support audits, and what feedback do auditors typically provide?
  • What experience do you have with the asset class(es) we focus on?
  • How is your team structured, and do you have enough people, with the right skills and experience, to properly support our funds?
  • What does your onboarding and conversion process look like?
  • How do you handle complex structures and non-standard events?
  • What services do you provide that are related directly and indirectly to our strategies?
  • What controls govern NAV production and error resolution?
  • Can your technology perform straight-through processes with transparency that is auditable?

• What technology capabilities should we look for when considering a fund administrator?

  In addition to a well-planned long-term strategy for utilizing advanced technology, the firm’s current technology should enable control, transparency and scalability:

  • Data access and transparency - Can the firm access fund data on demand? Do they provide auditors with self-serve access?
  • Reporting flexibility - Can reports be customized easily for internal teams and LPs?
  • System integrations - Does the administrator enable connectivity with data platforms and other downstream applications?
  • Automation - Is there reduced reliance on spreadsheets and manual workflows?
  • Audit trail and controls - Is there clear data lineage and documentation
  • Complex structures support - Does the firm offer multi-entity and multi-asset capability?

• What services should the fund administrator perform for us in the area of audit support?

  A fund administrator should act as the central audit coordination hub:

  • Prepare financial statements and supporting schedules
  • Manage PBC requests, confirmations and samples
  • Coordinate timelines, deliverables and auditor interactions
  • Track and resolve audit queries and adjustments
  • Maintain complete documentation and audit trails

• What are the benefits of working with a fund administrator for audits?

  Key benefits include:

  • Expertise and specialization ensure audits are conducted efficiently and effectively
  • Enhanced governance with fewer delays, adjustments and rework
  • Access to specialized technology resulting in improved data quality and consistency
  • Streamlined auditor access to information via detailed and transparent reporting
  • Faster, more predictable audit cycles
  • Independent and objective, which provides assurance that audits are conducted fairly and without bias

• How much involvement is required from the GP/manager?

  While execution is outsourced, ownership remains with the GP. A provider like SS&C typically handles:

  • Day-to-day audit coordination and data preparation
  • Auditor communication and request management

  The GP/Manager focuses on:

  • Key judgments (e.g., valuations, assumptions)
  • Final review and sign-off

• What makes SS&C different from other fund administrators?

  SS&C Technologies differentiates through:

  • Depth of expertise across all major investment strategies
  • Integrated, scalable technology platforms and infrastructure
  • Ability to support complex, global fund structures
  • A combination of domain knowledge + automation-driven delivery