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New horizons
The 2018 Mutual Fund Administration survey focuses on North American providers , but from next year , its scope will be expanded .
The 2018 Mutual Fund Administration
Survey is the first to be produced jointly by AON McLagan Investment Services ( McLagan ) and Global Custodian ( GC ), following signature of their agreement to co-operate in the management of client experience surveys in the securities services industry from March 2018 . Under the terms of the partnership agreement , McLagan provides a fully outsourced survey service to GC , including the creation and distribution of questionnaires , the collection of questionnaires completed both online through a dedicated technology platform and offline in formatted Excel spreadsheets , the analysis of the data received , and the preparation of both results and accompanying texts for publication . McLagan will also prepare research reports , based on the survey findings but combined with additional information about the costs , revenues , productivity and financial performance of service providers , for purchase by the firms that take part in the survey . GC continues to deliver all other aspects of the surveys published in the magazine , including the annual awards dinners in London and New York , and all advertising and sponsorship associated with the surveys , including the purchase of tiered Badges of Excellence . The timing of the 2018 Mutual Fund Administration Survey , which was open for submissions between February and April 2018 , did not permit the full division of labour between GC and McLagan to operate . Instead , both the survey questionnaire and the data collection process were managed by GC , while the analysis of the data , the weighting of respondents and the preparation of the texts that accompany the published scores were managed by McLagan . As in 2016 and 2017 , the published survey considers only fund managers purchasing fund administration services in North America . This has the virtue of facilitating comparability , but at the expense of illuminating the global marketplace . In 2019 , we intend to expand the coverage of the Mutual Fund Administration Survey to incorporate all of the major fund markets of the world , using a remodelled questionnaire .
We are most grateful to all fund managers who took the time and trouble to complete a respondent questionnaire , as well as to the mutual fund administrators who encouraged their clients to do so , and who completed a provider questionnaire of their own . Without their contribution , this survey would not be possible .
Methodology
The 2018 Mutual Fund Administration Survey asked respondents to address 29 questions divided between eight service areas : relationship management and client service , value delivered , fund accounting , transfer agency , distribution support , reporting , compliance and operations and custody . One hundred and nineteen completed questionnaires were received on behalf of 13 fund administrators , of which six received at least five responses , which is the minimum number required to assess a service provider adequately enough to publish
Contacts :
Daljit Sokhi Global Custodian daljit . sokhi @ globalcustodian . com
Richard Schwartz Global Custodian richard . schwartz @ globalcustodian . com
Dominic Hobson McLagan Investment Services dominic . hobson @ mclagan . com
Allison Cayse McLagan Investment Services allison . cayse @ mclagan . com
their average scores , both in absolute terms and relative to the average scores in each service area . Respondents were asked to rate their service provider on a scale of 1 to 7 , where 1 is “ very weak ” and 7 is “ excellent .” The analysis published in this issue of the magazine is based on average scores given by respondents . The scores are also weighted for the size ( measured by assets under management , or AuM ) and complexity ( measured by the number of asset classes and investment strategies pursued ) of the respondent .
72 Global Custodian Summer 2018