Meridian Fund Services (MFS), a US-based independently owned and operated full-service fund administrator, has launched a new solution, Meridian Ascension Platform (MAP), which allows emerging funds to raise their profile and capital.
Built to reduce start-up costs, organisational and infrastructure burdens, and time-to-market, the MAP will house emerging funds that join the platform in their own segregated series, where MFS will serve as the administrator for each series.
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Some of the features of MAP include availability to both new and existing managers, assistance with fund formation and structuring, reduction in legal costs through the provision of template fund offering documents, full support for the manager and the fund’s investors during the ramp up stage of a launch, insight and select offerings in respect of industry best practices, and competitive administration fees.
MFS chairman Tom Davis said the company has always sought to help emerging funds enter the market and grow to achieve their investment goals.
"We designed MAP in response to the challenges with which new funds consistently must deal – the primary challenge being a successful capital launch without administrative and operational drag. We view the program as a roadmap for managers poised to navigate the fund launch process," Davis added.
"With MAP’s capacity to reduce start-up costs and administrative burdens, emerging funds will be freed from some of the constraints normally associated with a launch.
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By GlobalData"MAP will provide an unprecedented opportunity to accelerate an emerging fund’s growth by allowing a manager to focus on the most two important tasks – implementation of an effective investment strategy and successful raising of capital."
