Maples Group Launches Canadian Fund Administration Solution

To support local Canadian domestic managers along with global managers launching and operating Canadian alternative investment funds, the Maples Group (“the Group”) has expanded its fund administration solution for Canadian-domiciled funds. The offering provides support to its existing and new client base in launching and operating Canadian domestic funds and accommodates the specific operational requirements of funds based in Canada.

The Canadian fund administration solution will be delivered by the Group’s Montreal office. Since the opening of the office in 2009, the team there has grown to more than 350 professionals who provide an array of services for alternative asset funds, managers and investors across the globe. The team’s expertise and experience in alternative investments, coupled with its track record in high-touch client service and customized solution design, is being augmented with additional services tailored to the requirements of Canadian domestic funds.

For investor services, the Group has implemented LTIMindtree’s Unitrax® system. For more than 30 years, Unitrax has been providing transfer agency systems to the Canadian investment industry, bringing a proven track record of enabling growth through innovative technology solutions. Unitrax® will integrate with the Group’s existing alternatives investment industry-leading technology fund accounting solutions, including SS&C Advent Geneva and FIS Investran for fund accounting.

“With our long-established footprint in Montreal, we look forward to leveraging our deep understanding of alternative investments operations and technology to bring a new option for Canadian and global managers to operate Canadian-domiciled funds,” says Mark Weir, Deputy Global Head of Fund Services at the Maples Group, who is based in the Montreal office.

The accredited investor market in Canada is expected to double between 2024 and 2029. To meet the increased demand from this sophisticated segment, there has been a recent uptick in fund managers launching alternative investment products in Canada, including hedge, private equity, private debt, infrastructure and venture capital investments. These funds are managed by Canadian fund managers and increasingly by global managers seeking to access the increased capital available in Canada from accredited investors.

“Our offering not only provides operational solutions for the increasing number of Canadian-domiciled funds but also provides clients with access to the deep relationships and knowledge that the Maples Group can provide both locally in Canada and internationally through our deep global network,” says Valérie Jetté, a Canadian funds industry veteran and Senior Vice President – Head of Fund Administration in Montreal.

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