Switching administrator

Switching fund administrator: how to move your fund

You can move a fund to a new administrator part way through its life. A move usually takes a few months and follows the same path: check your notice terms, choose the new administrator, get board approval, tell the regulator where needed, then migrate the records before a clean handover date. We help managers compare administrators and plan the move, free of charge.

Why managers switch administrator

  • Valuations and investor reports arrive late or need correcting.
  • Fees have risen faster than the fund.
  • Staff turnover means nobody knows the fund any more.
  • The fund has outgrown a small administrator, or is too small to matter to a large one.
  • The manager is launching another fund and wants one administrator for both.

How a switch works

  1. Read your administration agreement

    Find the notice period, any termination fees and what the outgoing administrator must hand over.

  2. Choose the new administrator

    Compare fees, the team who will run your fund, their systems and their experience with your asset class.

  3. Board approval and investors

    The fund board approves the change. Check your fund documents for whether investors must be told or asked.

  4. Tell the regulator

    For a regulated fund the regulator usually needs to know about a new administrator in advance, and some fund types need its consent. The incoming administrator normally prepares this.

  5. Migrate the records

    The investor register, anti-money laundering files, accounting records and valuation history move across. Bank mandates are updated and the auditor is told.

  6. Hand over on a clean date

    Most switches take effect at a month or quarter end, so valuations and accounts stay simple.

Switching questions

What does it cost to switch fund administrator?
The new administrator may charge a take-on fee and the outgoing one may charge for the handover under your agreement. Our help is free. If you appoint an administrator we introduced, it may pay us an introducer commission, and we tell you before you decide.
How long does a switch take?
Usually a few months from the decision to the handover date. The notice period in your current agreement is often the longest part.
Can we switch part way through the year?
Yes. Most funds pick a month or quarter end as the handover date so the valuation and accounts can be split cleanly between the two administrators.
Will our investors notice?
They will get reports from a new administrator and may be asked to confirm details for anti-money laundering checks. A well-planned switch should not interrupt dealing or reporting.

Thinking of moving administrator?

Tell us about your fund and what is not working, and we will help you compare administrators and plan the move.

Talk to us about switching