Fund administration is a multifaceted process involving the support of a fund's daily operations, financial accounting, asset valuation, and ensuring regulatory compliance. As Georgia's investment climate matures, professional fund administration has become critical for both local and international investors. Effective administration ensures transparency, builds investor trust, and significantly mitigates operational risks. This service is particularly vital for asset management companies that require an independent and qualified partner to manage internal fund processes efficiently, allowing them to focus on investment strategies.
What Does Fund Administration Cover?
Fund administration services encompass all technical and legal aspects necessary for the seamless functioning of an investment vehicle:
- Accounting and Financial Reporting: Recording all fund transactions in compliance with International Financial Reporting Standards (IFRS).
- Net Asset Value (NAV) Calculation: Periodic and accurate determination of the value of fund units, which is crucial for investor entry and exit.
- Regulatory Reporting: Preparation and submission of periodic reports to the National Bank of Georgia (NBG) and ensuring compliance with local mandates.
- Investor Registry Maintenance: Recording information about fund participants, processing subscriptions, redemptions, and managing distributions.
- Tax Compliance: Planning and declaring the fund's tax obligations in accordance with the Tax Code of Georgia.
- Audit Support: Coordinating the annual external audit process and preparing all necessary documentation for auditors.