The North American Fund Administration Association (NAFAA) has added Horseshoe and Sudrania to its roster business association for alternative fund administrators.
Since launching in February last year, NAFAA has added nine alternative fund administrators to its association and have several others who have expressed their intention to join this year.
The new association addresses the requirements and goals of investors and allocators, generate a useful and progressive dialogue with regulators and enhance and improve both the reputation and understanding of the North American fund administration industry.
NAFAA was set up to act as a voice for the administration industry and aims to support the administration's space, providing a forum where professionals can share and implement ideas for progression.
Chris Meader, founding director of NAFAA, said: “Horseshoe has an extremely experienced team with a firm commitment to controls and standards and Sudrania was formed by a team of fund administration professionals each having more than 15 years experience in the industry, making both firms ideal participants assist NAFAA in its quest to enhance the alternative fund administration industry.”
He added: “We are delighted to have them join the association and our working groups to help solve industry-wide challenges and establish standards and best practices for fund administrators.”
Brian Desmond, head of fund services at Horseshoe, commented: “Horseshoe are delighted to be accepted as members of NAFAA. We see NAFAA as a very important addition to the North American fund administration market.”
He added: “Fund administrators are robustly regulated in many offshore jurisdictions so it makes a lot of sense for US-based administrators to also be held to high governance and operational standards. NAFAA is in a great position to drive this initiative and Horseshoe looks forward to working with Chris Meader and the other NAFAA members in 2019 and beyond.”
Nilesh Sudrania, founder and CEO of the Sudrania Fund Services, said: “NAFAA is a step in the right direction to gather the fund administration industry at one place to work together and define the standards and work towards the common benefit and improved services to the managed funds industry. Sudrania Fund Services is excited to join the association in its early days and hopes to give back to the industry.”
