New York, 15 January 2020
Last year was a bumper year for Centaur Fund Services as it marked its 10 Year anniversary with a series of celebrations taking place on both sides of the Atlantic. This milestone offered Centaur’s Executive management team a unique opportunity to take the pulse of the Fund Administration market as it enters the next decade. Below, the Executives outline their predictions that are expected to impact on the industry in 2020 and beyond:
1. AN INCREASINGLY DIVERSE WORKFORCE BECOMES THE NORM
On diversity, Karen Malone, Founding Partner of Centaur Fund Services says “I’m a strong advocate of female entrepreneurship and diversity in the workplace – While there has been progress in this respect in the recent past, I believe that the next decade will see an increasingly diverse workforce and more flexible working arrangements being put in place. It has been proven countless times that teams that bring different outlooks, backgrounds and experiences into the mix can contribute greatly to the success of a firm.”
2. MORE PRIVATE EQUITY MANAGERS CHOOSE TO OUTSOURCE
On Private Equity, Ronan Daly, Founding Partner of Centaur Fund Services says, "I’m particularly excited about the Private Equity (PE) sector which will play a significant role in Centaur’s future. Increased regulatory pressure along with increasingly complex funds have placed administration at the heart of PE activities. For 2020 and beyond, PE administrators must become more creative and efficient as they respond to investor demands for greater efficiencies, more transparency and better reporting. Technology and client service are the key ingredients to success.”
3. TRANSITIONING SERVICE PROVIDER NO LONGER A DAUNTING PROSPECT
On Transition Services, Eric Bertrand, Founding Partner of Centaur Fund Services says, “Investors are supportive of funds moving service provider to obtain a better level of service and better contractual terms. The proof is in the numbers: To date, 50% of Centaur’s clients have migrated from other service providers. It’s all about making the transition smooth and performing in real time. Having a detailed plan with a dedicated team ensures that the transition to a new administrator is made effectively and seamlessly.”
4. CLIENT EXPERIENCE IS THE NEW BATTLEFIELD
On client experience, Des Johnson, CEO of Centaur USA, says “I believe that there is no more important priority in the fund administration market than to deliver an exceptional client experience. This experience must run through every aspect of the business and must reflect the increasing demands of clients. In fact, no less than a complete understanding of the client will become a prerequisite for successful administrators in 2020 and beyond as they deliver a quality client experience that continuously evolves with their clients.”
5. ADAPTATION ESSENTIAL FOR SURVIVAL
On adaptation, Gavan McGuire, Partner of Centaur Fund Services says, “There is no doubt that the marketplace is evolving rapidly. Adaptation is vital for survival in the funds industry. Successful administrators must constantly adapt to market forces and diversify their service offering accordingly. It is also vital for administrators to listen to clients and continuously adapt systems and processes to fulfill their needs. The fund management world is changing and Centaur understands the importance of adapting continuously to industry changes. It’s our ability to continuously adapt that will drive our growth in 2020 and beyond.”
6. TECHNOLOGY GIVES THE COMPETITIVE EDGE
On technology, Antonio Frias, CEO of Centaur Luxembourg, says "Technology is critical to client service. Everything is now happening in real time, which means any fund administrator worth their salt needs to offer immediacy, personalization and transparency, all on an accessible and secure platform. As security and regulatory challenges continue to make our business more complex, the need for technology to drive innovation will continue. That’s why we anticipate increased investment in our platform to meet those demands.”
Over the course of 2020 we will track developments in each of our predictions and will dive deeper into each topic throughout the course of the year. To join our mailing list, just send an email to centaur@centaurfs.com.