iag (london) real estate fund administration 2016
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LONDON / GUERNSEY / LUXEMBOURG / HONG KONG / SINGAPORE / CAYMAN ISLANDS
InternationalAdministrationGroup
www.iagfundservices.com
SERVICES FOR REAL ESTATE FUND MANAGERS
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We spoke to more than 100 GPs about fund reporting and what they have found to be the most important qualities of a fund administrator
Real Estate Funds - most GPs agree on what is most important
The ideal administrator knows its business, knows our business, and knows how to run a business in a way that puts the client first
GPs said they found the following most valuable in a fund administrator:
An experienced and expert team
A sophisticated business
framework
A relationship-driven partner
Technical accounting
ability
Robust and efficient
technology
Strong independent leadership
Specialist sector knowledge
Watertight processes
Proactive communications
style
Low staff turnover
A commitment to staff training
and development
Flexible approach to
service delivery
Willing to invest in the
relationship
Respondent to IAG’s most recent research
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We embrace these qualities and have built our business around them
IAG’s approach to fund services – always driven by client needs
In 2014, as part of our commitment to continuous service improvement, we began a research programme to identify our clients’ experiences of working with us
We use the findings to align our services more closely with our clients’ needs
GPs said they found the following most valuable – here’s how we stack up
An experienced and expert team
A sophisticated business
framework
A relationship-driven partner
Director leads each client mandate, is hands-on with the client and attends all board meetingsOur client directors have worked in fund administration for more than 25 years eachHigh continuity of staff servicing clients: 97% of headquarters’ staff retained 12 months or more (2013/14 figures)
We employ industry leading systems and technology to ensure the most up to date service platformsOnline portals are available for clients and investorsIT security and business continuity plans are robust and tested on a frequent basis
We are proactive in flagging opportunities and issues and flexible in how we work with youWe provide a director-led, consistent, accountable team that remains with you – every man is a “key man”From day one, we invest in a long-term relationship: our policies, ethos and work are focused on this principle
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Follow-upas required
We put our clients at the centre of our business – this is how you get there:
Getting started – beginning your partnership with IAG
Boardmeetings
Agreeprocesses
Due diligence
Team selectionPreparation
Gather client requirements and service needs to prepare proposal bespoke to client
Assess client and project requirements and select most appropriate client servicing team
Complete client due diligence in conjunction with fund authorisation application
Agree all procedures, operations, bank accounts, ledgers and advise on any improvements that can be made
Director-level representation at each quarterly board meeting
Our client-servicing team, including the assigned director, is always available for any issues that arise and will pro-actively advise of any opportunities that become apparent
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Real Estate fund administration
£4.8bn assets Under Administration
IAG (UK) // International Administration GroupPrivate and Confidential. All Rights Reserved. Not for Distribution. Copyright IAG (UK) Limited
IAG has a well-established reputation for administering real estate funds, which it has been doing since 2001
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Real Estate fund administration
Corporate and Statutory Services
Compliance and Regulation
Finance, Accounting and Administration
Investor Relations and Communications
Cash management
ADVISORY AND SERVICESRELATIONSHIP MANAGEMENT
Liaison with auditors
Accounting and bookkeeping
Asset and bank reconciliation
Investor communications
Maintenance of investor register
NAV calculations
Fee calculation and payment
Financial accounts preparation
Distributions calculation, paymentFund formation advice
and project management
Corporate secretarial services
Provision of registered office
Provision of directors
Management company and GP administration
Maintenance of statutory records
Statutory filings
Deal execution administration
Assistance with licence applications and
authorisation
FATCA and AIFMD reporting
Compliance monitoring
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Our AIF Manager and depositary services support those private equity and real estate clients whose funds are captured by the European Union’s Alternative Investment Fund Managers Directive (AIFMD)
AIFMD and depositary services
Through our partners, Thompson Taraz, we are able to offer a full AIFMD compliant depositary service, as well as comprehensive AIF Manager services
Cash MonitoringA central part of the
depositary's role is tounderstand and
monitor the fund’s cashassets
Safeguarding of AssetsOur role will include
verification of the ownership of your fund's assets,
recording of all evidence of ownership, and accurate
and up-to-date recording of these assets
Overseeing Fund OperationsOnce a fund is up and running, the rigorous oversight of fund operations is crucial for compliance
DEPOSITARYSERVICES
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We are proud of the relationships we build with our clientsBelow is a sample of those we work with in Europe, Asia and the Americas
Our credentials
A relationship-driven partner
A relationship-driven partner
Very strong knowledge and ability to guide us. Excellent data collector and high quality accounting and reporting – always correct and on-time information. Very quick at responding to our queries. Very good, very responsive and we love the single point of contact….Mark, a founder, is involved and available to discuss operational matters.Where there have been issues they have been resolved and they changed systems. They are a very strong outfit.
Respondents to our recent client research
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About IAG
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The desire to start IAG arose from the inevitable frustration that all entrepreneurs experience within a large organisation: excessive bureaucracy; focus on internal needs rather than the client’s; and desperately slow decision-making processes. We wanted to do it differently: to focus on solutions which fit the client’s culture and requirements; to offer daily access to our directors and shareholders as decision-makers; to find creative solutions to client challenges; and all the while doing this within a control framework which ranks with the best.15 years later we haven’t lost sight of these objectives. Indeed, we believe we meet them each and every day with every client contact. And we have done all this as we have grown from an office of 4 in 2000 to an international network of offices in key global jurisdictions.To do this we employ high quality people who share our view of how things should be done and attract clients who appreciate our partnership approach.Our efforts were recently recognised by being named the 2014 Guernsey Business of the Year. Welcome to IAG. We look forward to working with you.
A letter from our founders
“IAG gives clients daily access to our directors and decision makers.”
Alison Simpson, CEO Mark Woodall, CFO
“IAG attracts clients who share in our partnership approach.”
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The IAG management team
Alison co-founded IAG in 2000. She oversees IAG’s operations and its client services team, as well as managing a number of international clients.Alison has over 20 years’ experience in offshore banking and fund administration services. Prior to setting up IAG, Alison spent 10 years at Guernsey International Fund Managers Limited where she managed a number of clients and developed her expertise in offshore fund structures.
Mark co-founded IAG in 2000. He is responsible for finance and client services and has 22 years’ experience in offshore fund administration.Prior to IAG, Mark spent eight years at Guernsey International Fund Managers Limited, ultimately as Company Secretary and Head of Investment Administration where he was responsible for funds with assets over £5bn.He is an Associate of the Institute of Chartered Accountants in England and Wales and an Associate of the Chartered Institute of Bankers.
Raymond joined IAG in September 2006. He focuses on developing IAG’s business and completing strategic joint ventures in Asia and Europe to strengthen its international reach.He has 25 years’ experience of working in the financial services industry. Raymond has acquired and merged businesses across Guernsey, Jersey, London, Hong Kong, Singapore, Switzerland, British Virgin Islands and the Cayman Islands.Prior to IAG, he managed the European operations and 350 staff of Equity Trust.Ray is a Fellow of the Association of Chartered Certified Accountants.
RAYMOND PAGE, MANAGING DIRECTOR
MARK WOODALL, CFO
ALISON SIMPSON, CEO
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The IAG management team (continued)
Neil joined IAG in 2007. He oversees the fund accounting team, liaising with professional advisers and boards to ensure a smooth financial reporting process for clients.Neil has over 25 years’ experience in financial reporting for various fund structures using international, UK and US accounting principles.Prior to IAG, he was the Director of Client Accounting at Close Fund Services Limited. Previously he was a Senior Audit Manager for Ernst & Young in Guernsey.
Chris joined IAG in 2008. He oversees the Private Equity team and specialises in handling regulatory applications and setting up structures.Chris has 20 years’ experience within the Guernsey financial services industry, 15 of which were focused on private equity fund administration with Northern Trust.He has helped establish many high profile private equity funds.
Alan joined IAG UK in December 2014 as Commercial Director based in London. His focus is on business and commercial development.He has over 20 years’ experience in the financial services industry encompassing a wide range of sectors including capital markets and alternative investments.Prior to IAG Alan held a number of senior positions with leading financial institutions including BNP Paribas, Bank of New York Mellon and RBS.
ALAN ROSS, COMMERCIAL DIRECTOR
CHRIS COCHRANE, MANAGING DIRECTOR, PRIVATE EQUITY
NEIL FELL, CLIENT ACCOUNTING DIRECTOR
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The IAG management team (continued)
Afshin is a founding partner of Thompson Taraz, IAG’s joint venture partner in the UK. Afshin specialises in advising clients on establishing and dissolving funds, including complex cross-jurisdictional structures.Afshin also acts as a non-executive director for a variety of companies, in a funds-related fiduciary capacity or as a financial and commercial adviser to unquoted real estate funds.Afshin qualified with KPMG in their London office. He then spent eight years at Arthur Andersen. Afshin is a Fellow of The Institute of Chartered Accountants in England and Wales.Martin joined Thompson Taraz in 2001, IAG’s joint venture partner in the UK. He heads up its private equity fund depositary team. He specialises in using his technical knowledge and experience to guide clients on the structuring of funds and their management. He has recent experience of establishing EIS and SEIS funds.Prior to joining Thompson Taraz, Martin spent 14 years in the Business Services Division of the London offices of accountancy firm Baker Tilly.Martin is a Fellow of The Institute of Chartered Accountants in England and Wales.
Martin joined IAG in 2012 and is responsible for a number of its private equity clients. Martin has 15 years’ experience within the Guernsey financial services industry and has worked on many new fund formations. He works with a wide portfolio of clients in the private equity, as well as real estate, infrastructure and structured finance sectors.Martin is a member of the Guernsey Branch of the Institute of Directors and has been a director on a range of fund management and fund investment companies. He is a Fellow of the Association of Chartered Certified Accountants.
MARTIN SCOTT, DIRECTOR, PRIVATE EQUITY
MARTIN HEFFERNAN, DIRECTOR
AFSHIN TARAZ, DIRECTOR
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IAG invests in a range of market-leading and top-performing software programmes designed specifically for fund administration; IAG works with each client to tailor reporting and systems to meet client requirements
Systems architecture
INVESTRANInvestran is a fully integrated reporting solution for all processes, covering the entire investment life cycle and is used by a significant number of the world’s leading private equity firms.It provides a transaction-based, multi-currency general ledger for investment and partnership accounting, portfolio management and reporting.IAG uses Investran to generate and deliver automated capital calls, distributions, wire notices and other ad-hoc investor reports.MICROGEN
Microgen 4Series is a well-established software product that is widely used in the corporate administration area.It has fully integrated modules covering bookkeeping, asset valuation, multi-currency ledgers, fee calculations and shareholder registers.
VIEWPOINTViewPoint Administrator is used to manage the company secretarial records of our clients.One of its key benefits is the ability to store all statutory information and generate statutory reports such as annual returns and corporate registers.
VIRTUALBOARDROOM
SOLVAS PORTFOLIO
Virtualboardroom is an established application for the preparation of board packs. It enables clients to use their iPads to transport their board papers and has a web-based portal to enable the sharing of confidential documentation with directors and other authorised users.
Solvas Portfolio is a new software tool which IAG has introduced to provide an easy-to-use, transparent and accurate portfolio administration system, notably for sophisticated bond products.It supports a large array of asset types, including syndicated bank loans, bonds, asset-backed and mortgage-backed securities, synthetics and equity.
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Office locations
GUERNSEYInternational Administration Group (Guernsey) LimitedRegency Court, Glategny Esplanade, St Peter Port, Guernsey, GY1 1WW
LONDONInternational Administration Group (UK) Limited47 Park Lane, Mayfair, LondonW1K 1PR
LUXEMBOURGInternational Administration Group (Luxembourg) Sarl19 rue de l’Eau, L-1449 Luxembourg
CAYMAN ISLANDSc/o Wilmington Trust (Cayman) Ltd4th Floor, Century Yard, Cricket Square, Elgin Avenue, George Town, PO Box 32322,Grand Cayman KY1-1209, Cayman Islands
HONG KONGTricor IAG Fund Administration (Hong Kong) LimitedLevel 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong
SINGAPORETricor IAG Fund Administration (Singapore) Pte. Ltd80 Robinson Road, #02-00, Singapore 068898
EUROPE AMERICASASIA
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Contact
ALAN ROSSCOMMERCIAL DIRECTOR
Direct Line: +44 (0)20 7499 1111Mobile: +44 (0)7876 865076
aross@iagfundservices.com
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