TrustQuay, has today announced the launch of a Software-as-a-Service (SaaS) enabled fund administration platform to support trust, corporate and alternative fund services providers.
The new fund administration product is incorporated as part of TrustQuay Online, the first complete end-to-end cloud-native SaaS platform specifically designed for corporate services and trust administrators.
Supporting alternative fund structures such as private equity and real estate funds, TrustQuay Online’s new fund capabilities provide a fully integrated platform now spanning trust, corporate and fund services lines. Available 24/7 from any device with a browser and internet connection, these new fund administration capabilities offers a significantly reduced total cost of ownership compared to on-premise software and most other alternative fund administration solutions available in the market today.
Research from TrustQuay has shown significant interest in fund administration within the sector. In a recent survey, nine out of ten respondents say that alternative fund administration will be a growth opportunity for the industry. At present, 41% of trust and corporate services providers say they currently offer fund administration and a further one in five saying they plan to do so in the future. Private equity funds were seen as the top growth area, cited by two-thirds of respondents, with real estate funds coming in second, chosen by half of those surveyed. Debt funds and venture capital funds came in joint third position, named by a third of respondents.
Keith Hale, Executive Chairman of TrustQuay, comments: “The growth in alternatives globally had led to more and more trust and corporate services providers identifying the opportunity in illiquid fund administration. However, the increasing complexity of fund structures and investment capabilities means that providers are looking for more agile and more cost effective solutions.
“We’ve always helped our customers manage the underlying fund entities and SPVs, and I’m excited by these new capabilities in TrustQuay Online that allow us to serve our customers and other underserved fund administrators better. This new SaaS fund administration platform from TrustQuay offers a frictionless end-to-end solution from onboarding to lifecycle management, at a significantly reduced total cost of ownership.”
Simon is Global Head of Product and Marketing at TrustQuay