Crimson Funds Case Study

 

In October 2019, Crimson Capital transitioned all their hedge funds to Centaur Fund Services. Feeling disappointed with the level of client service from their prior administrator, Crimson turned to Centaur for its experienced team of professionals to build a partnership for the future.

CHALLENGE

Crimson realised that in times of uncertainty they needed an experienced administrator to be able to help guide them through any problems or issues they may experience throughout the accounting process.

Crimson required high quality, accessible and customized reporting from a single source and in a form that met the requirements of their managers, investors and regulators. After extensive due diligence, Crimson chose Centaur as their replacement fund administrator.

SOLUTION

Centaur was chosen for its industry experience and its ability to deliver timely and accurate statements. Centaur works with Crimson to develop customized solutions that enable them to run their businesses cost-effectively. This consists of daily reconciliations of trades, positions and cash to external counterparties, independent NAV calculation, daily corporate actions processing, expense and complex fee calculations such as management and incentive fees. Processing and executing invoice payments are delivered in a timely manner along with accurate independent pricing and valuations of the fund’s assets.

“We chose Centaur because of its industry expertise. They are hedge fund experts. Unlike other administrators, Centaur works with us to meet our requirements rather than the reverse. Their systems are fully customized to suit our specific reporting needs,” says Benjamin Chen, Director of the Investment Manager, Crimson Capital.

He continues, “During the initial volatility as a result of the pandemic, Crimson was able to freely enlist the support and expertise of Centaur to come up with the best solutions to guide us through a very uncertain and difficult period. Investor worries were allayed in both the short and long term. Markets have since rebounded and we are back on track to achieve high absolute rates of returns for our clients.”

RESULTS

• Accurate, timely and transparent reports delivered to all stakeholders
• Centaur ensures that Crimson funds remain fully compliant with all regulatory developments and reporting requirements, including AML and FATCA
• All fund level data is captured in the system which enables Centaur to work in a daily environment and deliver timely reporting
• Seamless transition because of the work by Centaur’s dedicated handover team

ABOUT CRIMSON CAPITAL

Crimson Capital is a registered investment management company that manages both a healthcare/biotech hedge fund and a multi-strategy hedge fund. Its healthcare/biotech fund has consistently been ranked a top performing fund globally.