ADP Expands Fund Processing Back Office

April 16, 2001 ( - ADP Brokerage Services Group has expanded its ADP Treasury Service Bureau, offering hedge funds, fund of funds and other alternative fund managers the ability to outsource their back office operations and accounting functions.

The expanded service bureau offering could allow fund managers to reduce the cost of transaction processing.

The ADP Service Bureau offers full back office support, including:

Get more!  Sign up for PLANSPONSOR newsletters.

  • fund accounting
  • trade and position reconciliation
  • daily net-asset value calculations

ADP entered the fund administration business through its acquisition of OMR Systems in 1999, which had been providing full back office services to some of the largest financial institutions in the world for more than 15 years.

The ADP Treasury Service Bureau currently services more than 160 domestic and international hedge funds and investment advisors, and reconciles more than 1,400 brokerage accounts every day, according to the company.