Fund Administrator
A fund administrator is a third-party service provider that supports NAV calculation, investor reporting, and fund operations.
Definition
Administrators handle fund accounting, capital account statements, NAV calculations, subscription/redemption processing, and investor communications. Strong administration reduces operational errors and improves consistency in reporting. Allocator Context Allocators assess administrator quality as part of ODD. A credible administrator can increase confidence in valuation processes and reporting discipline, while weak administration raises operational risk concerns. Decision Authority Service provider selection is reviewed during ODD and can affect allocation approvals. Some allocators have minimum service provider standards for compliance reasons. Why It Matters for Fundraising Professional administration reduces operational objections and improves investor experience. Managers should be transparent about admin responsibilities, controls, and reporting cadence. Key Takeaways Supports operational accuracy and reporting Service provider quality impacts ODD outcomes Improves investor confidence in NAV Often a gating item for institutions