As part of our vision to provide an All-in-One Support Solution for Fund Managers, we have taken our biggest step yet.  On 1st July 2008 we began our Fund Administration (Fund Accounting) Service business which offers the following functions:

1. Fund Accounting;
2. Unit Price Calculation;
3. Registry Services;
4. Fee Calculations;
5. Middle Office Functions; and
6. Reporting.

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Lazorne Fund Administration Services uses sophisticated technology.  Accordingly, it is well equipped to handle complex transactions (on both the long and short side) and is able to perform very complex computations across the suite of financial products (e.g. performance fee calculations can high watermarks, hurdles and series consolidations).

We note in particular that it is an integrated solution i.e. it is ONE system that performs ALL functions as opposed to other solutions whereby different technology is required for the various components, resulting in interoperability constraints.  Many administrators still use spreadsheets to perform calculations and/or employ legacy stand-alone registry and accounting systems.  Lazorne Fund Administration Services utilises integrated state of the art technology to offer a seamless integrated solution, thus maximizing efficiencies and reducing the room for error.

Our Fund Administration Service is built on 3 primary values:

1. state of the art technology - our purpose built software seamlessly integrates all of the accounting, valuation, fee calculation, unit registry and reporting functions. The key features of the software include:
   • Efficiency – fully automated data feeds.  Calculation of Net Asset Value is achieved via the press of a button. Furthermore, securities revaluations, currency revaluation, administration fees, management fees, incentive fees and NAV per share are all automatically calculated;
   • Sophistication –Major gaps in existing systems such as multi-series unit pricing, partnership allocation, administration fee calculation, management fee calculation, incentive fees, high watermarks, hurdle rates and equalisation are all supported.  The system is multi-currency and has an automated currency revaluation feature. The securities module support FIFO and average cost inventory methods and can handle short sales.  Furthermore, our system used supports master/feeder structures i.e. it can revalue all tiers of fund-of-fund and master feeder structures in one process;
   • Accuracy of fee calculations – Calculations of administration fees, management fees and incentive fees are automatically performed by the system and posted to the general ledger. The incentive fee calculations currently support the "Series of Shares and Consolidation" methods to ensure the equitable allocation of incentive fees, and includes high watermarks and hurdle rate calculations.  An equalisation model is also supported;
   • Flexibility - daily, weekly or monthly NAV calculations, complex unit classes and series accounting,  plus customized reporting;
   • Reporting - customised reports and shareholder contract notes can be easily created. We offer "user-friendly reports", which are provided in a timely manner and are clear, concise and useful;
   • Reliability – the system we employ is well established (1999), used globally, tried and tested.  Best of all it is fully supported locally…!;
   • Modular – our technology consists of a number of modules (such as a general ledger module and share registry module). All these modules are integrated in the one application which uses open relational database technology; and
   • Security - our system features a high level of security, with transactions journalised, password lock outs, security event log and separate authorization of transactions.  In addition, access by users of the system can be limited to specified Funds.
2. highly skilled staff - Our goal is to be an employer of choice by creating a stable and highly professional work environment that challenges our staff to excel; and
3. professional service – we offer highly efficient, pro-active services with a high level of responsiveness to client needs. Our mission is to take the stress away from your back office function, so that you can focus on your objective of making money for your clients.  We will work hard to make that happen.

Our Core Focus

At Lazorne Fund Administration Services, we understand the administration constraints of running a successful funds management business.  Accordingly, as a boutique Fund Administrator, we are able to tailor our services to each of our client’s specific needs.  Furthermore, we have the technology and expertise to build a tailor made service. 

Lazorne Fund Administration Services offers full portfolio administration services for a range of investment structures including retail and/or wholesale Funds, Fund-of-Funds, listed Funds, private equity Funds, Self-Managed Funds, Self Managed Accounts and Managed Discretionary Accounts, operating both locally and abroad.

We understand the complexities of the alternative investment world. Our software can be used for different investment strategies and alternative financial instruments in a global environment.

We too provide a range of flexible accounting, valuation and reporting options to cater for high end institutional and sophisticated investor needs. 

Since we are independent, Lazorne Fund Administration Services offers peace of mind to investors as they know that valuations are being calculated independently.

Our Principles

• Service - our clients come first.
• Flexibility – a customised service.
• Skill - we maintain high standards of skill and experience.
• Ethics - we operate with the utmost honesty and integrity.
• Independence - strictly third party service and advice.

Cost Savings

• Large Fund Administrators have high infrastructure costs with the associated high fees. This is a big hurdle especially for start-ups or boutique Fund Managers. We are competitively priced.
• Since Lazorne Group is ONE provider of many services, we can achieve greater cost savings by the Fund Manager using various services we offer.
• We can assist in reducing other service provider costs such as custody and/or brokerage fees.

Our Major Strengths

Lazorne Fund Administration Services believes that its major strengths over its competitors are:

1. Sophisticated technology for all service offerings – Lazorne Fund Administration Services employs the use of sophisticated technology and will continue to enhance its service offering by developing further technology or engaging service providers that are leaders in their field. This also makes Lazorne Fund Administration Services more flexible (e.g. in reporting) and efficient.
2. Core competency - Lazorne Fund Administration Services only employs experienced staff.  Unlike many of its competitors, Lazorne Fund Administration Services does not hire junior staff.
3. A comprehensive service offering - Lazorne Group is ONE provider of many services.  This enables clients to leverage their returns by using the full suite of resources and skills that we offer.  We are well versed with the products, participants and the legislation and have hands on practical experience.

Other Specialised Services

Lazorne’s approach, structure, systems and support is aimed at enabling its Funds Management clients to focus their attention on trading [as opposed to running the administrative and compliance functions of the business i.e. we seek to take all the distractions away, so attention can be given to trading and growing the business].

Lazorne Fund Administration Services has coined the phrase that it ‘provides most of the “fund-essentials” required to operate a Fund’.  This is on the basis that Lazorne Group is ONE provider of many services to the Fund Manager, which include the following: 

• Legal Services;
• Licensing;
• Ongoing Compliance;
• Fund Administration (Accounting) Services;
• An online AML/CTF Program which performs client identification, verification and risk assessment (with 24 hours access given to the investment manager);
• Coming soon…Mandate Compliance (using a proven system, not Excel spreadsheets);
• Ongoing Training (including regulatory updates and compliance training); and
• Fund promotion.

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We emphasize that we are not trying to sell you additional services, but rather explaining that we offer our clients the ability to use the full suite of resources and skills we are capable of offering in the financial services (and particularly the Funds Management) sector.