CommonWealth Fund Services Receives Highest Ranking... |
Date: Monday, August 27, 2012
Author: News Release
CommonWealth Fund Services Receives Highest Ranking Among Canadian-founded Fund Administrators in Global Survey
TORONTO August 27, 2012 - CommonWealth Fund Services Ltd., a Toronto-based fund administrator, today announced its ranking on the annual Global Custodian Hedge Fund Administration Survey. CommonWealth scored 6.07 out of 7, making it the highest ranked administrator founded in Canada.
Global Custodian’s 17th Annual Hedge Fund Administration Survey received 1,293 responses involving 43 administrators from around the world. CommonWealth won seven "Best in Class" Awards in the categories of Technology, Fund Manager Reporting, Investor Reporting, and Fund Structuring. This was the first year CommonWealth has been ranked by Global Custodian, which bases survey results on responses from the administrators’ investment fund manager-clients.
"I am very gratified with the results," said company Chairman John Clark. "Our clients are the most important measure of our success, and this confirms our belief that we are well on our way to establishing ourselves as one of the leading fund administrators in the Canadian market". Clark founded CommonWealth and its parent company Caledon Trust Company, after a 40-year career in money management during which he founded Connor Clark & Company, Connor Clark & Lunn, and JC Clark Ltd.
Co-founder and President, Mark Damelin, said "This is a testament to the efforts of our staff and the power of our fully integrated technology platform". CommonWealth recently released a web-based platform, which was requested by a client in the survey feedback.
Damelin added, "Our web-based platform provides fund managers and investors with access to their statements and reports via a secure web portal. Beyond mailing or emailing statements, we can provide greater flexibility in the way our clients receive our data. We believe this is where the fund administration industry is headed, and we are happy to be there already."
In its profile of CommonWealth, Global Custodian stated: "Toronto-based CommonWealth is a newcomer to the survey but one whose performance will cause investors to take notice".
About CommonWealth Fund Services Ltd.
Founded in 2007, CommonWealth Fund Services Ltd. is a Canadian fund administrator servicing 55 domestic and offshore investment funds totalling $1.2 billion in assets. CommonWealth calculates fund net asset values on a daily, weekly, monthly, or quarterly basis, acts as transfer agent, and supports its clients with financial statement and tax return preparation. The firm is currently pursuing its Section 3416 qualification. CommonWealth’s parent company, Caledon Trust Company, is federally chartered and regulated by the Office of the Superintendent of Financial Institutions. Caledon acts as trustee for many funds which CommonWealth administers. Further information on CommonWealth is available on the company’s web site at www.commonwealthfundservices.com.
For further information:
Media Contact:
Francis Communications
Barry Francis
416-447-7908
barry@franciscommunications.com
CommonWealth Fund Services
Mackenzie Crawford
416-687-6654
mackenzie@commonwealthfundservices.com