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Hong Kong Trust selects Linedata for fund administration services to complex, diverse client funds

Linedata (NYSE Euronext: LIN), the global solutions provider dedicated to the investment management and credit industries, today announced that The Hong Kong Trust Company Limited (Hong Kong Trust) has chosen and implemented Linedata Admin Edge to provide fund administration servicing for their client base of individuals, family offices, intermediaries and corporations.

Hong Kong Trust provides professional trusteeship, fiduciary services, fund and private equity administration and corporate services. The selection of Linedata Admin Edge was based on the platform’s strong functionality and ability to manage both fund administration and transfer agency functions and to handle a broad range of funds, many with special rules. Other criteria were the scalability, automation and compliance benefits of this established, robust administration platform. Carolyn Butler, CEO of Hong Kong Trust, explains: “We are a specialist provider and have funds and structures with complex rules so Linedata Admin Edge’s ability to service different type of structures was key. In addition, we wanted a solution which could scale up with us as we continue to expand. We have already seen the benefits of automation, indeed we have been able to grow without adding additional staff, yet retain our high levels of client servicing.”

FATCA and AML compliance were also high on Hong Kong Trust’s selection check list, and Linedata Admin Edge’s proven track record in these areas will assist in the process of producing the required reporting in an accurately and timely manner. Carolyn sees this of particular importance in the administration of private equity and private fund structures and, given the increasing regulatory requirements for all products going forward, Linedata Admin Edge’s functionality will assist. As the private structure market is a growing market sector in Asia, the ability to service increasing numbers of these clients is key.

Carolyn notes that the local support provided by Linedata in Hong Kong has also been beneficial, both in getting the system up and running and in meeting day-to-day needs: “Linedata’s local staff has been knowledgeable and enthusiastic. It is helpful to have people on the ground who can respond in a timely manner when we need help.”

“We are pleased to be able to provide Hong Kong Trust with local expertise through our recently opened support office for our back office clients in Asia,” comments Ciaran Whooley, Regional Head of Client Services at Linedata. Hong Kong Trust’s requirement for a highly flexible, cost-effective fund administration solution which can handle a wide variety of complex fund types including private equity is one that we see increasingly, and one which fits Linedata Admin Edge’s profile especially well.”

“Linedata is delighted to welcome Hong Kong Trust to its growing client base in Asia,” says Linedata’s Managing Director for Asia Pacific, Sally Crane. “We have a real depth of experience in hedge funds and all aspects of alternative investment in our Hong Kong regional center, and, as a logical next step, have extended this to fund servicing software and expertise, which we anticipate will grow alongside our established business.”