Latest Surveys

JPMorgan, CACEIS win Private Equity Administration Outsourcing Survey

French securities services specialist CACEIS and global custodian bank JPMorgan have emerged as the leading providers of administration services to private equity funds, according to Global Custodian magazine’s 2008 Private Equity Fund Administration Survey.

“The idea of outsourcing administrative tasks has come to the private equity industry relatively recently,” says Dominic Hobson, editor in chief of Global Custodian magazine. “But our survey is clear evidence that it has taken off.

“Private equity administration is a very different discipline from hedge fund or mutual fund administration. But the arguments in favor of it are the same for private equity fund managers as they are for any type of fund manager: You can reduce your overhead and free up time to focus on the things you’re good at,” Hobson says.

Despite consolidation, sub-custody market remains extremely competitive

Thirty-seven local custody and clearing banks have secured top ratings in the 2008 Global Custodian survey of Agent Banks in Major Markets.

The survey, which is now in its 20th year, is based on over 4,500 responses from banking, broker-dealing and buy-side clients of 122 banks in 26 markets.

Citigroup Japan boasts the highest score in the survey among the prestigious leading clients group—the most sophisticated buyers of securities services—and has lifted its average scores in all service areas to levels that are well ahead of the global benchmarks in all service areas and the local benchmarks in all but a handful, which is impressive for a foreign provider in what remains a high-scoring market. >> read more

Uncertain Market Does Not Sway Quality Of Hedge Fund Administration, Says Global Custodian Survey.

Despite industry-wide anxiety about staff turnover and tightening credit, scores are up across the board for hedge fund administrators in Global Custodian's Hedge Fund Administration survey, fueled by a response rate that surged 25% this year. The full results appear in the Summer Plus issue of Global Custodian.

Citco Fund Services continues to top the annual survey, now entering its 13th year. On the biggest turnout of any provider, overall averages rose in all but one question, further cementing the company's long-held dominance of the top spot in the survey.

Scores also rose significantly at Citi, Fortis Prime Fund Solutions, PNC Global Investment Servicing, AIS Fund Administration, CIBC Bank and Trust Company, Equity Fund Services and Fulcrum Fund Services. However, scores slipped at Circle Partners, LaCrosse and IFS, A State Street Company.

Even as several firms featured in the survey in the past have consolidated, the number of rated providers rose from 20 to 26. In fact, information was received on a total of 56 providers, of which 39 received enough responses to be included. >> read more