Today, Registered Investment Companies and Investment Advisers must abide by more regulatory standards than ever before. For instance, Rule 38a-1 of the Investment Company Act and Rule 206(4)-7 of the Advisers Act require the development and implementation of a compliance program.
For many investment professionals who are already deeply committed to ensuring the highest standard of support for clients, this additional step does not seem necessary. Indeed, additional regulatory measures may seem like an unneeded expense. For these and other investment organizations, a Mutual Fund President is an important safeguard for ensuring compliance and long-term focus on success.
What Are the Services of an Outsourced Mutual Fund President?
A mutual fund president develops strategies for marketing, compliance, agreements, financing and other management tasks related to a Mutual Fund. Vigilant has extensive experience in serving in the capacity of President for mutual funds and mutual fund complexes with over 20 Billion in AUM. In addition, the mutual fund president offers the leadership needed to make a fund succeed and to introduce it into new markets. Serving in this capacity, a member of Vigilant will provide the following services to the Fund:
- Interface and report directly to the Fund’s Board
- Attend Board, Committee and other Fund Meetings
- Develop and implement a growth strategy for the Fund
- Interface and oversee mutual fund service providers
- Support team members in decision-making
- Interact daily with necessary team members to ensure accuracy of information and data
- Oversee the implementation of compliance program and risk management program by the Chief Compliance Officer
- Examine operating and other financial metrics
What Benefit Does Outsourcing Mutual Fund Management Offer?
While most funds require management support, not all require a full-time professional. Outsourcing the position of a mutual fund director offers many benefits:
- Time savings realized by not handling the recruitment, screening, hiring and training process
- The ability to secure a highly skilled and experienced director
- Cost savings realized by not hiring someone full time
- You can secure different professionals for president and CCO, ensuring you get the right fit for each position
- You benefit from the up-to-date compliance and regulatory knowledge of an experienced professional
- Since your director continues to work with multiple funds, they garner a more objective view as well as a more thorough understanding of best practices and current regulatory frameworks
- You can create a more streamlined team for core operations
- You enjoy scalability and flexibility, ensuring you always have access to management services when you need them
Why Vigilant Fund Management?
Since 2004, Vigilant Fund Management has been helping funds find the right level of outsourcing and support in the financial communities of Metro New York, Philadelphia, Boston, D.C. and Dallas. With a team of legal and financial professionals, Vigilant Fund Management has the resources needed to find the right management solutions. It is why billion-dollar funds have turned to our team when they needed support.
Modified: November 7, 2018