10% Of Hedge Funds Mull Administrator Change

Feb 4 2010 | 12:39pm ET

There could be a good deal of turnover in the hedge fund administration space, according to a new survey.

According to TKS Solutions, which is marketing a new version of its administration software Penny, many hedge funds are unhappy about the timeliness and accuracy of partner and shareholder accounting reports.

The reports states that one in 10 hedge funds have considered switching administrators over the past year as a result of those shortcomings.

“Based on feedback from our hedge fund customers, we discovered that many administrators were still struggling under the weight of convoluted spreadsheets,” Ronald Kashden, TKS president, said. “By expanding Penny’s partnership and shareholder accounting features to factor in administrator needs we could give them the efficiencies and improvements in accuracy that their customers are demanding in this economic climate.”


In Depth

Q&A: TCA Fund Management's Bob Press on Small-Cap Private Equity

Aug 25 2016 | 8:55pm ET

The emergence of private credit as a replacement for traditional bank financing...

Lifestyle

Kiawah: Island Reversal

Aug 24 2016 | 9:59pm ET

Looking for real estate investments but the typical real estate fare isn’t cutting...

Guest Contributor

Old Hill Partners: Embrace Illiquidity

Aug 9 2016 | 2:39pm ET

The age-old financial concept that higher yields are the result of higher risk and...