FUND ADMINISTRATION

LEGAL AND REGULATORY COORDINATION

Fund administration means different things at different firms, in our experience. At Nottingham we view administration as “managing the process so that you can focus on your core strength of making investment decisions.” For 1940 Act mutual funds, administration is very heavy on regulatory compliance and filings. For private funds, not regulated, administration is more focused on overseeing the operations. Administration incorporates more than just our in-house legal team; it is a team effort involving the accounting team, financial reporting team and relationship managers.

SHEPHERDING REGULATORY COMPLIANCE

Compliance covers many areas. For registered funds the SEC is central. All investment funds are established with tax considerations in mind, as a pass through entity for tax purposes likely. Securities must comply with state laws, typically referred to as blue sky laws. Marketing of investment products is governed by FINRA and various SEC regulations. Managing this process is an alphabet soup of regulations, agencies, and calendars. The negative ramification of not handling these areas properly is significant. The Nottingham team has been working in these areas for almost three decades, and has the relationships needed to handle the processes efficiently, without wasting either time or financial resources. The Nottingham deliverable is your peace of mind.

Our relationship with Nottingham has improved the effectiveness and efficiency of what I've been able to do for the endowment. There has not been one thing we've asked for that they've not come up with a way to address our request.
-- Endowment Advisor, Wachovia Securities

OVERSIGHT AND SUPPORT OF GOVERNANCE

Whether a 40 Act fund governed by a board of trustees, or a government investment pool overseen by a board of government officials, the governance process is central to an investment structure’s success. Board agendas and supporting materials are much more involved than when Nottingham first started in the late 1980s. Preparing for board meetings takes several weeks and a great deal of organization. The Nottingham legal group, with a great deal of input and assistance from fund accounting, financial reporting, relationship management and shareholder services, is expert at managing the process. Board minutes are the best insurance policy to document how well the fiduciaries have undertaken their responsibilities. It is the Nottingham mission to make sure the fiduciaries responsible for each investment structure sleep soundly.

Each person that I work with or have worked with over the years is very genuine. They are all well-intended, hardworking people, and I've always liked that about Nottingham.
-- Chief Investment Officer, Mutual Fund

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