Fund Accounting

Thursday, 6 August 2020

Fund Accounting 101: What Is Fund Accounting? Phoenix American

Once the fund has gone live, as investors are admitted to the fund, money is coming in and assets are being acquired, fund accounting will conduct a review of the processes and workflow established in the initial set up and implement adjustments, as needed, to accommodate operational reality. Is cash coming in through the right channels? Is investment data complete and correct? Are subscription documents in good order: contact information, investor tax status, side letters? Are any unique calculations necessary? Is the deployment of capital changing the structure or flow of funds in any way? Do sub-entities or blockers need adjustment? It may be necessary to revisit the setup process or even draft amendments to the LPA or LLC agreement to accommodate how it is now known the fund is going to work.

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415-485-4500

Fund Administration

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Thursday, 30 July 2020

A Brand New Look And A New Website For Phoenix American

How our history has shaped us and our brand’s evolution.

We’ve recently embarked on an update of our brand image to coincide with today’s launch of our new website. We’re excited to add this milestone to Phoenix American’s 48 years in operation. As we look to the future, we’re also taking this opportunity to look at our surprising history and how it has shaped the company we are today.

The value we bring as a consultative partner.

From real estate and debt funds to commodity pools and asset-backed securities, we’ve served every kind of alternative investment fund and developed innovative solutions as new structures and strategies emerge.

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415-485-4500

Fund Accounting Service

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Tuesday, 21 July 2020

New Report: Venture Capital & COVID-19 Trend Outlook - Phoenix American

We have published a new white paper examining the initial impacts of the COVID-19 pandemic crisis on the venture capital industry. Venture Capital & COVID-19: The State of Fundraising, Historical Downturn Insights & Startup Trends analyzes the effects on venture capital of the first four months of the pandemic crisis and the outlook for the rest of 2020 and beyond.

The paper draws on Phoenix American’s observations as a fund administration provider, conversations with the sponsors of its many client funds as well as interactions with partners, intermediaries and other participants in the industry. The company’s twenty-plus years as a fund sponsor as well as forty-plus years as a provider of fund administration services provides a unique perspective on current events and their effects on investment funds.

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Saturday, 4 July 2020

What’s Covid-19 Impact On Commercial Real Estate? - Phoenix American

Our latest white paper examines the initial impacts of the COVID-19 pandemic crisis on commercial real estate across the United States. CRE & COVID-19 Winners, Losers & the Road Ahead, A Trends Outlook Report analyzes the effects on commercial real estate of the first three months of the pandemic crisis and the outlook for the rest of 2020 and beyond.

The paper draws on our observations as a fund administration provider, conversations with the client sponsors of real estate funds as well as interactions with partners, intermediaries and other participants in the industry. Our twenty-plus years as a fund sponsor as well as forty-plus years as a provider of fund administration services provides a unique perspective on current events in commercial real estate.

Top takeaways from the report include an analysis of differing impacts to various property types and regions of the country and what prospects for recovery in the near and short term appear likely.

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415-485-4500

Fund Accounting

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Friday, 19 June 2020

The Way Tax Season Should Be - Phoenix American

For alternative investment funds, tax season can be an onerous and distracting chore. But it doesn't have to be. With a stricter regulatory environment in place than in years past, federal, state, local and foreign tax filings as well as sales use tax, property tax, income tax, 1065 e-filing, 1099s and K-1s must be prepared with precision,.

The importance of the accuracy and promptness of these tax processes cannot be overstated. Nevertheless, rather than seek out an fundadministration firm with experience and expertise to assist in these functions, many firms handle their taxes in-house.

Several issues arise with in-house tax accounting.

"Tax season can be a distracting chore, but it doesn't have to be."

The problem with in-house tax accounting
At Phoenix American, we often find that clients are reluctant to outsource their tax document processing. This is due to a misunderstanding of the true costs involved.

A typical approach for many funds is to hire an outside CPA to work in conjunction with in-house employees. This can be far more difficult and expensive than it seems. To manage their own tax document preparation, a fund not only must hire one or more outside CPAs but also dedicate in-house operations personnel tasked with producing, processing and auditing the enormous amount of necessary data using internal systems not specialized for the task. This leaves a lot of room for human error and can take months to complete. After tax form data is produced, it still must be printed and mailed and/or filed online, time-consuming functions in themselves coming at additional expense to the firm.

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415-485-4500

Fund Accounting

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Wednesday, 17 June 2020

What To Look For When Choosing A Fund Administrator

If you have decided to partner with a fund administrator for your alternative investment fund, you’ve taken an important step. A professional back-office infrastructure is a smart business decision, allowing you to focus your team’s skills and resources on sales and investments. But a working partnership that is likely to last for 3 to 5 years is something to be approached carefully. These are the most important things you will need to know before choosing a fund administrator.

1. The History and Experience of the Firm
Some providers have a lot more of the right kind of experience than others. Some firms are primarily transfer agents for exchange-traded funds who imagine that administering non-traded funds is relatively similar. It is not. There is a great deal of hands-on, manual work with investor data in alternative fund operations and many third parties and regulators to satisfy. Experience is key. The administrator to look for has many years of direct experience specifically in the alternative investment fund industry and has developed systems and procedures to address its many unique challenges.

2. Breadth of Service Offering
Your administrator will manage all your investor data. The option of integrating other related services with that single provider may be invaluable. Does the administrator offer fund accounting, tax services, K-1/1099 preparation, sales reporting, printing and mailing, investor web portal account access? There is a significant efficiency in utilizing a single provider for all investorand asset related services. The more outside partiesyou and an administrator must work with the more potential for misunderstandings, errors, higher costs and lapses of data security.

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415-485-4500

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Friday, 5 June 2020

Phoenix American Financial Services and PAFS Ireland, Ltd Announce Robust 2019 Business Growth

Phoenix American Financial Services and its wholly owned subsidiary PAFS Ireland, Ltd (collectively “Phoenix”) announced robust business and operational growth for 2019, building on a decades-long industry leading role as provider of managing agent services for asset-backed securitizations (ABS) in the commercial aviation and aircraft engine leasing industry. Phoenix has provided services for aviation ABS clients for over 20 years and has been a leading participant in the growth and maturation of the industry.

In 2019, Phoenix concluded managing agent contracts with Stratos Aircraft Management for the JOL Air Limited ABS, Merx Aviation for the MAPS 2019-1 ABS, BOC Aviation, Ireland for the Silver 2019-1 ABS, Carlyle Aviation Partners for the AASET 2019-1 ABS and Dubai Aerospace Enterprise for the Falcon 2019-1 ABS. With these additions, Phoenix now services entities with over 1,400 aircraft and engines having a combined initial appraised value exceeding $35 billion at original issuance.

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415-485-4500

Fund Administration

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