ISIS Fund Services provides back office portfolio and fund accounting services to investment companies and funds domiciled in onshore and offshore jurisdictions. Our accounting team is made up of qualified accountants, mainly Chartered Accountants, with prior hedge fund administration experience. We have selected PFS-Paxus® as our primary fund administration platform. The system consists of securities, general ledger, share registry, partner allocation and reporting modules. All modules are integrated in the single application. Our processes are designed to offer our clients monthly, weekly or daily Net Asset Value calculations.

Please explore our service offerings for Hedge Funds Below:

The ISIS Fund Services team has extensive experience working with managers who are initially launching funds in various jurisdictions around the globe. ISIS will provide an in-depth review of your current offering documents and will offer guidance from an administrative, accounting and corporate governance viewpoint. Our pre-launch services include:

• Liaison with onshore and offshore legal counsel
• Review of offering memoranda and constitutive documents
• Consultation on fund structures from an operational perspective
• Review of equalization or series methodology
• Coordinate business implementation, company secretarial, operations and the client’s legal counsel for finalization of all fund administration documentation, board resolutions and agreements
• Coordinate the opening of the fund’s subscription and redemption as well as operational accounts through JP Morgan’s Bank Account Platform for alternative fund managers
• Coordinate any necessary regulatory filing requirements
• Assist with Stock Exchange Listing
• Introduction to prime brokers, custodians, lawyers, audit firms and independent directors, if requested
• Liaison with prime brokers to establish access via secure website to aid automation of transaction processing and holdings reconciliation
• Development of operational procedures and workflow

ISIS Fund Services provides back office portfolio and fund accounting services to investment companies and funds domiciled in onshore and offshore jurisdictions. Our accounting team is made up of qualified accountants, mainly Chartered Accountants, with prior hedge fund administration experience. We have selected PFS-Paxus® as our primary fund administration platform. The system consists of securities, general ledger, share registry, partner allocation and reporting modules. All modules are integrated in the single application. Our technology, staff and procedures are designed to offer our clients monthly, weekly or daily Net Asset Value calculations. Our services for Portfolio, Fund and Partnership Accounting include:

• Calculate Net Asset Values for onshore and offshore funds, including automated calculation and allocation of administration, management, incentive fees and other accruals
• Independently value securities using third party sources including Bloomberg and Markit Partners
• Collect underlying fund valuations for fund of funds
• Reconcile portfolio positions, activity and cash with prime brokers and custodians
• Data consolidation across multi-prime brokers, multi-strategies and multi currencies
• Resolve all trade breaks with brokers and adjustments for corporate actions and dividends
• Automated multi-series, series consolidation, equalization and partnership accounting
• Automated side pocket functionality
• Liquidity analysis reporting for fund of funds
• Prepare monthly and year-end fund financial statements
• Liaise with auditors and coordinate audit timetables
• Coordinate tax preparation
• Design customized reporting using SQL tools

ISIS Fund Services can provide our clients with daily transaction processing, reconciliation and daily P&L reporting so that Investment Managers can focus their time and resources on managing the portfolio. Our current technology platforms, PFS-Paxus, ISIS Connect and ISIS Analytics and the accompanying reporting enable ISIS to provide these middle office services to our clients. ISIS Connect provides our clients and investors with real time online access to a full suite of reports and ISIS Analytics powered by Linedata Beauchamp provides our clients with on-demand online access to a large variety of portfolio analytics with drill-down capability to the transaction level detail. The reports also aggregate data from multiple prime brokers, providing slice and dice views of the portfolio. Our middle office services include but are not limited to:

• Automated import of daily portfolio pricing from third party data vendors
• Automated daily corporate action processing
• Automated daily import of portfolio transactions
• Automated daily reconciliation of trades, cash and portfolio positions
• Provide online daily, weekly, or monthly customized portfolio reports

For more details on ISIS Connect and ISIS Analytics please explore our technology.

Our Investor services include the following:

• Maintain the investor records and respective share and partnership registers
• Monitor ERISA asset levels in accordance with the terms of the Offering Document
• Process subscriptions/contributions, redemptions/withdrawals and share/capital account transfers, if any, in accordance with KYC/AML/ATF procedures
• Reconcile and confirm payments of subscriptions/contributions and redemptions/withdrawals
• Process and disburse the payment of any dividends declared by the Board of Directors
• Process share transfers subject to Board of Directors approval, as required
• Seek to ensure investor compliance with the money laundering regulations of the jurisdiction where the fund is domiciled and the applicable  regulations in the domicile of the administrator
• Distribute confirmations of investor holdings
• Issue and cancel share certificates, if any
• Report to investors by email, web or fax their respective holdings and values at each period end
• Distribute Investment Management Reports to Investors as and when required
• Publish the Net Asset Value per share as requested by the Funds
• Deal with and reply to all investor correspondence and other communications to the Funds relating to subscriptions/contributions, redemptions/withdrawals and transfer of securities
• Distribute all Investor notifications including updated offering documents
• Distribute Audited Financial Statements to Investors each year and any interim statements as requested
• Disburse payments of approved third party fees and expenses incurred by the Funds
• Facilitate the payment of duly authorized redemptions
• Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

Manage Investor due diligence: anti-money laundering (AML) and USA PATRIOT Act compliance (KYC) review

• Verification that Investor’s funds are remitted from a Financial Action Task Force (“FATF”) recognized bank and if a redemption request is made, that the funds are sent back to the wire instructions on file.
• Utilize World-Check© to run investor names and associated parties through a database that checks names against different anti-terrorism government lists.

Our processes also include ensuring that our staff is current on the latest AML / KYC laws and ensuring that our policies and procedures are current.

ISIS Fund Services offers cash management solutions through JP Morgan. One of the divisions of JP Morgan provides banking services for about 100 administrators, 3,000 fund families and over 15,000 entities in the alternative space comprised of management companies, single manager funds, fund of funds, and special purpose vehicles (SPVs). ISIS Fund Services Ltd. has established a banking platform with JP Morgan in order to facilitate the opening of multi currency bank accounts and treasury services for fund clients

• Establish and maintain bank accounts through JP Morgan’s Bank Account Platform for alternative fund managers
• Disburse payments of approved third party fees and expenses incurred by the Fund
• Facilitate the payment of duly authorized redemptions
• Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

ISIS Fund Services has three employees dedicated to the provision of corporate secretarial and regulatory compliance services with over 40 years combined experience with providing corporate secretarial services to funds, companies, partnerships and unit trusts (Investment Vehicles) that are domiciled in Bermuda, Cayman Islands, and The British Virgin Islands. Our team understands the time constraints and documentation required in carrying out intricate fund transactions as well as completing regulatory requirements for funds and companies in various jurisdictions. They are able to effectively and efficiently coordinatewith directors, officers and other parties to ensure that timely and accurate completion of the regulatory and corporate deliverables relating to the fund transactions are accomplished. Services include the following:

• Liaise with legal counsel on creation/amendment of constitutional and offering documents
• Comply with all legislative and regulatory requirements including the requirements of any stock exchange
• Organize and attend meetings with the Board of Directors by preparing meeting notice and agenda, distribute meeting materials, record decisions, prepare and finalize minutes of meeting
• Organize and attend shareholder meetings to ensure approval requirements are met, record decisions, prepare and finalize minutes of meetings
• Prepare written resolutions for specific transactions and coordinate the execution
• Organize regulatory filings and the payment of government and other domiciliary fees
• Provision of Registered Office for Bermuda and Cayman funds
• Provide an individual or corporate entity to act as company secretary, segregated account representative and director
• Maintain minute books & corporate records
• Advise on best corporate governance practices

ISIS Fund Services Corporate Secretarial Group uses the best of breed technology to ensure the accurate management and administration of the Investment Vehicles we service. Our corporate database is ViewPoint which was founded in 1994 and is the world’s leading software in the management of different entity structures. It is currently used in over 40 jurisdictions and relied on by over 5,000 users. ViewPoint’s Administrator module assists our team in organizing key attributes and events for servicing our Investment Vehicles including, but not limited to:

• Registered office & statutory addresses
• Annual return details & dates
• Memorandum & Articles/ Bye-Laws details
• Change of name details
• Business registration details
• Directors – min required, max allowed
• Share registration and ownership analysis
• Statutory officers and general relationships

Our experienced team of qualified and experienced accountants will prepare financial statements, including the financial highlights that comply with the stated accounting standards of the respective investment vehicle.

• Prepares financial statements including relevant note disclosures under GAAP or IFRS accounting standards
• Assist in the audit process by preparing and submitting accounting records and supporting schedules to auditors

We have extensive experience providing fund of hedge funds clients with fund and portfolio accounting as well as investor servicing. With our technology platform we have specific fund of hedge funds functionality that adds significant value and effieciencies to the ongoing administration and accounting for these fund structures.

Please explore our service offerings for Fund of Hedge Funds Below:

The ISIS Fund Services team has extensive experience working with managers who are initially launching funds in various jurisdictions around the globe. ISIS will provide an in-depth review of your current offering documents and will offer guidance from an administrative, accounting and corporate governance viewpoint. Our pre-launch services include:

• Liaison with onshore and offshore legal counsel
• Review of offering memoranda and constitutive documents
• Consultation on fund structures from an operational perspective
• Review of equalization or series methodology
• Coordinate business implementation, company secretarial, operations and the client’s legal counsel for finalization of all fund administration documentation, board resolutions and agreements
• Coordinate the opening of the fund’s subscription and redemption as well as operational accounts through JP Morgan’s Bank Account Platform for alternative fund managers
• Coordinate any necessary regulatory filing requirements
• Assist with Stock Exchange Listing
• Introduction to prime brokers, custodians, lawyers, audit firms and independent directors, if requested
• Liaison with prime brokers to establish access via secure website to aid automation of transaction processing and holdings reconciliation
• Development of operational procedures and workflow

ISIS Fund Services provides back office portfolio and fund accounting services to investment companies and funds domiciled in onshore and offshore jurisdictions. Our accounting team is made up of qualified accountants, mainly Chartered Accountants, with prior hedge fund administration experience. We have selected PFS-Paxus® as our primary fund administration platform. The system consists of securities, general ledger, share registry, partner allocation and reporting modules. All modules are integrated in the single application. Our technology, staff and procedures are designed to offer our clients monthly, weekly or daily Net Asset Value calculations. Our services for Portfolio, Fund and Partnership Accounting include:

• Calculate Net Asset Values for onshore and offshore funds, including automated calculation and allocation of administration, management, incentive fees and other accruals
• Independently value securities using third party sources including Bloomberg and Markit Partners
• Collect underlying fund valuations for fund of funds
• Reconcile portfolio positions, activity and cash with prime brokers and custodians
• Data consolidation across multi-prime brokers, multi-strategies and multi currencies
• Resolve all trade breaks with brokers and adjustments for corporate actions and dividends
• Automated multi-series, series consolidation, equalization and partnership accounting
• Automated side pocket functionality
• Liquidity analysis reporting for fund of funds
• Prepare monthly and year-end fund financial statements
• Liaise with auditors and coordinate audit timetables
• Coordinate tax preparation
• Design customized reporting using SQL tools

Our best of breed technology has been developed to support Fund of Funds portfolio accounting and the specific functionality for Fund Of Hedge Fund clients include:

• Allowing various series, side pockets and classes for underlying securities to be added to a “security group” and then reports can be produced by grouping
• Price movements can be applied to the group when performing estimated NAV’s
• Designating series of underlying investments as “lead series”, allowing consolidation of series without realizing gain/loss on each investment
• Allows for a percentage of a series to be liquidated into a side pocketed investment without realizing any gain/loss
• Allowing “side pocketed” investments to be allocated to only certain series/ groups of investors of the fund as well as the related gain/loss
• Optionally Capture Fund Terms and Conditions: e.g. Redemption Terms, Gates, Fees, Lockups etc; a simple report can then be generated, custom reporting can also be designed to meet the managers requirements in this area
• Allow for “post close” NAV prices to be entered into the system for underlying investments so that reports can be produced showing the difference between the final net assets values produced using estimates underlying prices versus what the net asset value would have been if final underlying prices had been used
• Allow for pricing to be done on a percent change for estimates on a security by security basis
• Provides a full range of Fund of Hedge Fund portfolio reports ( in PDF, Excel or text formats)
• Allows for full multi-currency portfolio of investments
• For investments in underlying funds which are onshore dividend / property funds allows for dividends to be processed together with the automatic posting and deduction of withholding tax
• Allows for P&L to be reported on a series / class or investor by investor basis
• Allows for the accounting of staggered payments from underlying funds on redemption (deferred payments)

ISIS has built strategic partnerships that can offer our Fund of Fund clients custody services and lines of credit.  Depending on our clients specific needs we can introduce them to the right partner. 

For more information please refer to our contact information on this website.

Our Investor services include the following:

• Maintain the investor records and respective share and partnership registers
• Monitor ERISA asset levels in accordance with the terms of the Offering Document
• Process subscriptions/contributions, redemptions/withdrawals and share/capital account transfers, if any, in accordance with KYC/AML/ATF procedures
• Reconcile and confirm payments of subscriptions/contributions and redemptions/withdrawals
• Process and disburse the payment of any dividends declared by the Board of Directors
• Process share transfers subject to Board of Directors approval, as required
• Seek to ensure investor compliance with the money laundering regulations of the jurisdiction where the fund is domiciled and the applicable  regulations in the domicile of the administrator
• Distribute confirmations of investor holdings
• Issue and cancel share certificates, if any
• Report to investors by email, web or fax their respective holdings and values at each period end
• Distribute Investment Management Reports to Investors as and when required
• Publish the Net Asset Value per share as requested by the Funds
• Deal with and reply to all investor correspondence and other communications to the Funds relating to subscriptions/contributions, redemptions/withdrawals and transfer of securities
• Distribute all Investor notifications including updated offering documents
• Distribute Audited Financial Statements to Investors each year and any interim statements as requested
• Disburse payments of approved third party fees and expenses incurred by the Funds
• Facilitate the payment of duly authorized redemptions
• Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

ISIS Fund Services offers cash management solutions through JP Morgan. One of the divisions of JP Morgan provides banking services for about 100 administrators, 3,000 fund families and over 15,000 entities in the alternative space comprised of management companies, single manager funds, fund of funds, and special purpose vehicles (SPVs). ISIS Fund Services Ltd. has established a banking platform with JP Morgan in order to facilitate the opening of multi currency bank accounts and treasury services for fund clients

• Establish and maintain bank accounts through JP Morgan’s Bank Account Platform for alternative fund managers
• Disburse payments of approved third party fees and expenses incurred by the Fund
• Facilitate the payment of duly authorized redemptions
• Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

Manage Investor due diligence: anti-money laundering (AML) and USA PATRIOT Act compliance (KYC) review

• Verification that Investor’s funds are remitted from a Financial Action Task Force (“FATF”) recognized bank and if a redemption request is made, that the funds are sent back to the wire instructions on file.
• Utilize World-Check© to run investor names and associated parties through a database that checks names against different anti-terrorism government lists.

Our processes also include ensuring that our staff is current on the latest AML / KYC laws and ensuring that our policies and procedures are current.

ISIS Fund Services has three employees dedicated to the provision of corporate secretarial and regulatory compliance services with over 40 years combined experience with providing corporate secretarial services to funds, companies, partnerships and unit trusts (Investment Vehicles) that are domiciled in Bermuda, Cayman Islands, and The British Virgin Islands. Our team understands the time constraints and documentation required in carrying out intricate fund transactions as well as completing regulatory requirements for funds and companies in various jurisdictions. They are able to effectively and efficiently coordinatewith directors, officers and other parties to ensure that timely and accurate completion of the regulatory and corporate deliverables relating to the fund transactions are accomplished. Services include the following:

• Liaise with legal counsel on creation/amendment of constitutional and offering documents
• Comply with all legislative and regulatory requirements including the requirements of any stock exchange
• Organize and attend meetings with the Board of Directors by preparing meeting notice and agenda, distribute meeting materials, record decisions, prepare and finalize minutes of meeting
• Organize and attend shareholder meetings to ensure approval requirements are met, record decisions, prepare and finalize minutes of meetings
• Prepare written resolutions for specific transactions and coordinate the execution
• Organize regulatory filings and the payment of government and other domiciliary fees
• Provision of Registered Office for Bermuda and Cayman funds
• Provide an individual or corporate entity to act as company secretary, segregated account representative and director
• Maintain minute books & corporate records
• Advise on best corporate governance practices

ISIS Fund Services Corporate Secretarial Group uses the best of breed technology to ensure the accurate management and administration of the Investment Vehicles we service. Our corporate database is ViewPoint which was founded in 1994 and is the world’s leading software in the management of different entity structures. It is currently used in over 40 jurisdictions and relied on by over 5,000 users. ViewPoint’s Administrator module assists our team in organizing key attributes and events for servicing our Investment Vehicles including, but not limited to:

• Registered office & statutory addresses
• Annual return details & dates
• Memorandum & Articles/ Bye-Laws details
• Change of name details
• Business registration details
• Directors – min required, max allowed
• Share registration and ownership analysis
• Statutory officers and general relationships

 We provide a high touch fund administration outsourcing solution to private equity funds including buy out, venture, real estate and hybrid structures. We understand the specialized nature of the private equity industry and we are committed to hiring qualified and highly experienced staff to ensure that ISIS has the necessary expertise to give our private equity clients the highest level of service. 

Our primary technology platform, PFS-Paxus has the accounting and investor services functionality necessary for efficient processing of private equity structures which is in turn fully integrated with our online investment manager and investor services reporting platform.

Combining some of the most experienced staff in the industry with a fully integrated technology platform and a client first approach,  allows ISIS to deliver a high value added, yet cost effective,  private equity administration outsourcing solution to funds and investors.

Please explore our service offerings for Private Equity Funds Below:

The ISIS Private Equity Fund Services team has extensive experience working with managers who are initially launching funds in various jurisdictions around the globe. ISIS will provide an in-depth review of your current offering documents and will offer guidance from an administrative, accounting and corporate governance viewpoint. Our pre-launch services include:

• Liaison with onshore and offshore legal counsel
• Review of offering memoranda and constitutive documents and consultation on fund structures from an operational perspective
• Advice on fund structuring and carried interest provisions
• Coordinate business implementation, company secretarial, operations and the client’s legal counsel for finalization of all fund administration documentation, board resolutions and agreements
• Coordinate the investor take on process and manage subsequent close process
• Coordinate any necessary regulatory filing requirements
• Introduction to custodians, lawyers, audit firms and independent directors, if requested
• Development of operational procedures and workflow
• Establish,  set up and manage fund bank accounts
• Develop fund and investor reporting packages

Our accounting services for Private Equity Funds include the following:

• Maintenance of all financial accounting records
• Prepare quarterly and year-end fund financial statements
• Calculate and prepare call and distribution notices
• Provide support in the investment valuation and documentation process
• Reconcile portfolio positions, activity and cash with bank, custodians, counterparties or deal documents
• Model and manage carry distributions
• Calculation and payment of management fees
• Prepare partner capital accounts
• Manage the annual audit process
• Production of data for tax preparation
• Calculation of IRRs and other performance metrics
• Payment of all fund expenses

Our Investor Services offering include but is not limited to the following:

• Maintain the investor records and respective share and partnership registers
• Processing of calls and distributions including cash monitoring
• Production and distribution of quarterly and annual reports to investors as required
• Distribute Investment Management Reports to Investors as and when required
• Deal with investor queries as required
• Reporting to the GP as required

ISIS Fund Services offers cash management solutions through JP Morgan. One of the divisions of JP Morgan provides banking services for about 100 administrators, 3,000 fund families and over 15,000 entities in the alternative space comprised of management companies, single manager funds, fund of funds, and special purpose vehicles (SPVs). ISIS Fund Services Ltd. has established a banking platform with JP Morgan in order to facilitate the opening of multi currency bank accounts and treasury services for fund clients

• Establish and maintain bank accounts through JP Morgan’s Bank Account Platform for alternative fund managers
• Disburse payments of approved third party fees and expenses incurred by the Fund
• Facilitate the payment of duly authorized redemptions
• Facilitate the transfer of subscription monies to the Fund’s accounts with its prime broker/custodian

Manage Investor due diligence: anti-money laundering (AML) and USA PATRIOT Act compliance (KYC) review

• Verification that Investor’s funds are remitted from a Financial Action Task Force (“FATF”) recognized bank and if a redemption request is made, that the funds are sent back to the wire instructions on file.
• Utilize World-Check© to run investor names and associated parties through a database that checks names against different anti-terrorism government lists.

Our processes also include ensuring that our staff is current on the latest AML / KYC laws and ensuring that our policies and procedures are current.

ISIS Fund Services has three employees dedicated to the provision of corporate secretarial and regulatory compliance services with over 40 years combined experience with providing corporate secretarial services to funds, companies, partnerships and unit trusts (Investment Vehicles) that are domiciled in Bermuda, Cayman Islands, and The British Virgin Islands. Our team understands the time constraints and documentation required in carrying out intricate fund transactions as well as completing regulatory requirements for funds and companies in various jurisdictions. They are able to effectively and efficiently coordinatewith directors, officers and other parties to ensure that timely and accurate completion of the regulatory and corporate deliverables relating to the fund transactions are accomplished. Services include the following:

• Liaise with legal counsel on creation/amendment of constitutional and offering documents
• Comply with all legislative and regulatory requirements including the requirements of any stock exchange
• Organize and attend meetings with the Board of Directors by preparing meeting notice and agenda, distribute meeting materials, record decisions, prepare and finalize minutes of meeting
• Organize and attend shareholder meetings to ensure approval requirements are met, record decisions, prepare and finalize minutes of meetings
• Prepare written resolutions for specific transactions and coordinate the execution
• Organize regulatory filings and the payment of government and other domiciliary fees
• Provision of Registered Office for Bermuda and Cayman funds
• Provide an individual or corporate entity to act as company secretary, segregated account representative and director
• Maintain minute books & corporate records
• Advise on best corporate governance practices

ISIS Fund Services Corporate Secretarial Group uses the best of breed technology to ensure the accurate management and administration of the Investment Vehicles we service. Our corporate database is ViewPoint which was founded in 1994 and is the world’s leading software in the management of different entity structures. It is currently used in over 40 jurisdictions and relied on by over 5,000 users. ViewPoint’s Administrator module assists our team in organizing key attributes and events for servicing our Investment Vehicles including, but not limited to:

• Registered office & statutory addresses
• Annual return details & dates
• Memorandum & Articles/ Bye-Laws details
• Change of name details
• Business registration details
• Directors – min required, max allowed
• Share registration and ownership analysis
• Statutory officers and general relationships

We provide services to Insurance Linked funds through ILS Fund Services Ltd.  ILS Fund Services Ltd. caters to funds investing in insurance linked securities (ILS). The joint venture between the Horseshoe Group and ISIS Fund Services capitalizes on the strengths of its founders so that the Company can offer ILS clients comprehensive fund administration and valuation services.
Please find below additional detail regarding value-added services to ILS funds:

• Only dedicated ILS fund administrator to offer both independent valuation & fund administration services for ILS funds based in Bermuda, Cayman Islands, BVI, and the U.S.
• Founded by two companies with extensive experience in fund administration and the reinsurance and ILS markets
• Professional staff comprised of qualified (re)insurance and fund accountants, seasoned fund administrators, actuaries, underwriters, claims adjusters and former ILS bankers, brokers and licensed securities representatives
• Ability to offer transforming services through The Horseshoe Group’s affiliate Horseshoe Re
• Assist clients with prelaunch tasks including review of offering document operational & valuation terms, introduction to service providers in the ILS space & consultation on fund launch questions
• Provide independent fund accounting, performance reporting & valuation services to ILS funds
• Prepare financial statements at year-end & coordinate annual audits
• Provide comprehensive investor services including subscription & redemption processing, AML/ATF review, statements & report dissemination & dealing with investor queries
• Corporate secretarial services for offshore domiciled funds including the provision of registered office, appointment of a company secretary, full board of directors support & sourcing of independent directors
• Web reporting functionality through ISIS Connect for both investment managers and investors
• Independent portfolio valuation & verification services specific to ILS including catastrophe bonds, ILWs & collateralized reinsurance
• Advise on ILS asset valuation methodology and create the valuation models necessary to support the valuation of the Fund’s investments in consultation with the investment manager and the Fund’s auditors
• Provide advice & support to clients on best practice insurance accounting for ILS investments