Hedge fund services.
HEDGE FUND: Services
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HEDGE FUND: Services
| BNP Paribas | BNY MELLON | Northern Trust | SEIC | State Street Bank and Trust | Ultimus Fund Solutions, LLC | UMB Fund Services | U.S. Bank Global Fund Services | |
| FINANCIAL REPORTING SERVICES | ||||||||
| Bank account reconciliation verification | U | U | U | U | U | U | U | U |
| Fee calculation at multiple levels | U | U | U | U | U | U | U | U |
| Client reporting | U | U | U | U | U | U | U | U |
| Custom reporting | U | U | U | U | U | U | U | U |
| Daily NAV calculation | U | U | U | U | U | U | U | U |
| Daily investor est. NAV/performance | U | U | U | U | U | U | U | U |
| Fund reporting | U | U | U | U | U | U | U | U |
| Fund and investor audit support | U | U | U | U | U | U | U | U |
| General ledger accounting | U | U | U | U | U | U | U | U |
| NAV calculation for pooled investments | U | U | U | U | U | U | U | U |
| Independent valuation | U | U | U | U | U | U | U | U |
| Internal reporting | U | U | U | U | U | U | U | U |
| Internet reporting | U | U | U | U | U | U | U | U |
| Investor accounting and reporting | U | U | U | U | U | U | U | U |
| Investor transparency reporting | U | U | U | U | U | U | U | U |
| Manager on-line reporting | U | U | U | U | U | U | U | U |
| Portfolio analytics | U | U | U | U | U | U | U | U |
| Reconciliation | U | U | U | U | U | U | U | U |
| Trade capture | U | U | U | U | U | U | U | U |
| Leveraged/unleveraged investor accounting | U | U | U | N | U | U | U | U |
| Multi-currency investor reporting | U | U | U | U | U | U | U | U |
| Reporting multiple levels | U | U | U | U | U | U | U | U |
| Tax preparation and reporting | U | U | U | U | U | N | U | U |
| Wash sale reporting | U | U | U | U | U | N | U | U |
| FUND COMPLIANCE AND REGULATORY SERVICES | ||||||||
| Jurisdiction regulatory compliance | U | U | U | N | N | N | U | U |
| Fund chief compliance officer (CCO) | U | U | U | N | N | N | N | N |
| Compliance policy updates and reviews | N | A | U | N | A | N | N | U |
| Consulting for fund advisors | U | N | U | N | N | N | U | N |
| Registered fund regulatory administration | U | U | U | N | A | N | U | U |
| Board support | U | U | U | U | A | N | U | U |
| Regulatory findings | A | U | U | N | N | N | U | U |
| Compliance testing | U | U | U | N | A | N | U | U |
| RIC-qualified tax services | A | U | U | N | A | N | U | U |
| Anti-money laundering review | U | U | U | U | A | U | U | U |
| AML/KYC services | U | U | U | U | U | U | U | U |
| Principal underwriter and distributor | N | N | U | N | N | N | N | N |
| Form PF filing software and services | U | U | U | U | U | N | U | U |
| FATCA services | U | U | U | U | U | U | U | U |
| Year-end audit management | U | U | U | U | U | U | U | U |
| Year-end audit financial statement prep | U | U | U | U | U | U | U | U |
| U.S. tax solutions with preferred provider | N | U | U | U | U | N | U | U |
| Fund structure specific reporting | U | U | U | U | D | N | U | U |
| Risk reporting support | N | U | U | U | U | U | U | U |
| ISAE 3402 & SSAE 16 certified | U | U | U | N | U | U | U | U |
| FRONT OFFICE SERVICES | ||||||||
| Brokerage services | U | U | U | N | U | N | N | N |
| Counterparty communications: conf/settlement | U | U | U | U | U | U | U | N |
| Custody and safekeeping services | U | U | U | U | U | U | N | U |
| Trade allocations: fund/strategy/trader/broker | U | U | U | U | U | U | U | U |
| Electronic trade capture: front ends OMS/EMS | U | U | U | U | U | U | U | U |
| EOD flash reporting | U | U | U | U | U | U | U | U |
| Foreign exchange services | U | U | U | U | U | N | U | U |
| Intraday portfolio and P/L reporting | U | U | U | U | U | N | N | U |
| Master order blotter | N | U | U | U | U | U | N | U |
| Operating cash/subscription accounts | U | U | U | U | U | N | U | U |
| Order execution and routing | N | U | U | U | U | U | N | N |
| Portfolio event processing | U | U | U | U | U | U | U | U |
| Pre and post trade compliance | U | U | U | U | U | N | U | U |
| Real Time P/L capability | D | U | U | N | A | N | N | U |
| Regulatory reporting support | U | U | U | U | U | U | U | U |
| MIDDLE OFFICE SERVICES | ||||||||
| Cash services and wire execution | U | U | U | U | U | N | U | U |
| Cash/Collateral management | U | U | U | U | U | N | N | U |
| Custom attribute tagging | U | U | U | U | U | N | U | U |
| Daily portfolio accounting and P&L reporting | U | U | U | U | U | U | U | U |
| Daily portfolio pricing from independent source | U | U | U | U | U | U | U | U |
| Daily reconciling of position, market value | U | U | U | U | U | U | U | U |
| Daily portfolio flash reporting on “T” | U | U | U | U | U | U | U | U |
| T+1 pre-market open reconciled portfolio | U | U | U | U | U | U | U | U |
| Data transmissions | U | U | U | U | U | U | U | U |
| Lifecycle event processing | U | U | U | U | U | U | N | U |
| Limit/Investment restriction monitoring | A | U | U | N | U | U | N | U |
| OTC cash/collateral management | U | U | U | U | U | N | N | U |
| OTC counterparty affirmations | U | U | U | U | U | A | N | U |
| OTC independent valuation | U | U | U | U | U | A | U | N |
| Security master management | U | U | U | U | U | U | U | U |
| Trade affirmation/confirmation services | U | U | U | U | U | U | U | U |
| Trade capture and matching | U | U | U | U | U | U | U | U |
| Trade capture: front end/files/brokers | U | U | U | U | U | U | U | U |
| BACK OFFICE SERVICES | ||||||||
| Cash management | U | U | U | N | U | U | U | N |
| Cash reconciliations | U | U | U | U | U | U | U | U |
| Cash controls as security administrator | U | U | U | N | U | U | U | N |
| Dual authorized signatory | U | U | U | U | N | U | U | U |
| Custom portfolio reporting | U | U | U | U | U | U | U | U |
| Dynamic web portal reporting | U | U | U | U | U | D | U | U |
| Exchange reporting | U | U | U | N | N | N | U | U |
| Financial reporting | U | U | U | U | U | U | U | U |
| Fund accounting and NAV calculation | U | U | U | U | U | U | U | U |
| Inter-period NAV estimates | U | U | U | U | U | U | U | U |
| Investor attribute tracking and reporting | U | U | U | U | U | N | U | U |
| Investor servicing and communications | U | U | U | U | U | U | U | U |
| Investor confirmation notice production | U | U | U | U | U | U | U | U |
| Institutional investor audit confirms | U | U | U | U | N | U | U | U |
| Investor document processing/warehousing | U | U | U | U | N | U | U | U |
| Investor/interested party registration | U | U | U | U | U | U | U | U |
| NAV calculations | U | U | U | U | U | U | U | U |
| Tax reporting | N | U | U | U | U | N | U | U |
** - Not Reported
N - Not Available
U - In Use
A - Available
D - In Development
N/A - Not Applicable