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Sudrania Launches Mutual Fund Series Trust Using Cloud Technology For Fund Administration

October 26, 2020

Source: Sudrania | October 26, 2020 – Sudrania Fund Services (“Sudrania”) announces the launch of its Mutual Fund series trust, leveraging its cloud-based technology (“Seamless”). Seamless is the firm’s proprietary fund administration software that works with any asset class, fund structure, and multiple currencies. Built by industry veterans with deep fund industry experience, the technology automates many parts of the fund operational processes, reducing manual errors and proving cost savings. As a result, the firm’s series trust can offer cost and operational efficiencies for investment advisors.

Investment advisors who leverage utilize this model could benefit in several ways, including:

  • The in-house, cloud-based technology will deliver operational and cost efficiencies
  • Reduced setup time and costs support mutual funds launching with lower AUM
  • Opportunity for existing funds to convert to platform resulting in reduced operating costs and enhanced performance
  • Access to a wider potential retail audience at a lower minimum for investors and established distribution channels

Nilesh Sudrania, CEO, Sudrania Fund Services commented, “Historically, we have always operated in a daily NAV environment which is unique in the private funds space. Given the demand from our private fund clients looking for different distribution channels based on their strategy, this was a natural extension of our firm’s offerings.”

About Sudrania’s Mutual Fund Series Trust:

Fund Administration
  • Facilitate launch or conversion in coordination with legal and trust board
  • Prepare and coordinate quarterly board minutes/meetings for fund
  • Financial statement preparation, SEC/Edgar filing
  • Post trade compliance and threshold reporting 40 act, SEC, and IRS rules
  • Maintain annual budget and compliance calendar
Fund Accounting
  • Daily NAV and reporting to databases, portals, and advisors
  • Daily reconciliation of trades, positions, and cash balances
  • Record corporate actions
  • Calculate fund income/ distributions
  • Coordinate or assist with SEC Exams and annual audits
Transfer Agent Services
  • Subscription, redemption, and transfer transaction processing
  • AML controls and checks for shareholders
  • Answer to investor queries and information requests via call center.
  • Respond to data and information requests from local regulators, directors, and/or corporate secretaries
  • Investor statement preparation and distribution
  • User-friendly investor web portal
Fund Distribution Services
  • Third-party statutory distributor for the trust and funds.
  • Facilitate selling agreements on various platforms at fund and trust level
  • FINRA review and filing of fund marketing materials going out to the public
  • Provide rep licensing for investment advisor to the fund
  • Establish and maintain relationships with mutual fund various mutual fund dealers and supermarkets
Tax Services
  • Maintaining tax allocation schedules by investor
  • Preparation and support of fund and shareholder tax returns including Forms
  • State and federal tax filings
  • Customized wash sales, straddles, and other portfolio tax reports

Skyler Steinke, SVP of Business Development, Sudrania Fund Services added, “Many of our competitors only service Mutual Funds or only Alternative Funds. Those that service both typically have separate disparate platforms and servicing teams for each, which creates inefficiencies and challenges for clients who manage both fund types. Having the technology in-house for the core fund operational functions means that fund conversions or launches will be much easier and simpler for investment managers.”

About Sudrania

Sudrania Fund Services is a global fund administrator based in Chicago, Illinois who combines the robust power of cloud computing with a scalable boutique service model. Sudrania’s Seamless platform is an integrated portfolio, fund, and investor accounting system with a full-scale general ledger system. Our solutions can process high-frequency trading volumes to deliver daily NAV for impact funds, hedge funds, cryptocurrency funds, commodity pools, and mortgage funds. This integrated software system is equally capable of supporting automation of capital calls/distribution and other complex calculations for private equity funds, real estate funds, and Special Purpose Vehicles. For more information, visit