US EAST COAST 2012 - HFMWeek

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What penalty are you prepared to pay Significant yet avoidable withholding taxes are around the corner. In a recent poll of more than 240 Fund Managers and CFOs, only 19% had started working on a plan to become FATCA compliant. Will you be ready Did you know domestic funds are subject to FATCA, not just off-shore entities Have you appointed a responsible officer Is the officer aware of the responsibilities of the role Are you aware of the recently issued intergovernmental agreements and how they affect compliance Let’s get down to business. TM www.eisneramper.com Christian Bekmessian, CPA Co-Chair, Financial Services 212.891.4062 christian.bekmessian@eisneramper.com Peter J. Cogan, CPA Co-Chair, Financial Services 212.891.4047 peter.cogan@eisneramper.com EisnerAmper LLP Accountants & Advisors Independent Member of PKF International NEW YORK | NEW JERSEY | PENNSYLVANIA | CALIFORNIA | ILLINOIS | CAYMAN ISLANDS
US EAS T COAS T 2012 FUND SERVICES IN THE CLOUD JACK MCDONALD OF CONIFER TALKS TO HFMWEEK ABOUT THE ADVANTAGES OF EMBRACING CLOUD COMPUTING AND HOW HIS COMPANY’S CLIENTS HAVE BENEFITTED FROM THE ICON DASHBOARD Jack McDonald is the president and CEO of The Conifer Group and has more than 20 years of industry experience. Conifer is a 24-year-old outsourced service provider for middle and back office, global fund administration, outsourced buyside execution and prime brokerage. With hedge funds facing greater pressure on IT costs – as well as increasing demand for greater transparency, efficient data storage and risk reporting since the financial crisis of 2008 – cloud computing is transforming the way fund administrators, managers and investors store and manage data. HFMWeek talks to Jack McDonald about how using the cloud has facilitated and improved his company’s asset services offering. HFMWEEK (HFM): How do you define the cloud and what are the benefits of using a cloud solution Jack McDonald (JM): Cloud computing is a broad industry term that refers to the hosting of hardware and software offsite, in a shared facility that offers benefits to the end users. The benefits include the ability to scale hardware and software in a much more efficient, intelligent and secure manner. For example, having a cloud solution allows for additional server space without it being installed in your server room. Upgrades and maintenance can then be made on the various systems in a much more stable environment. From a security standpoint, the ability to host these systems in multiple locations significantly mitigates the risk of losing data as cloud providers have multiple facilities and redundant systems. Replicating this quality infrastructure is generally far too expensive and complex for most asset managers to build internally. Moreover, the nimble nature of cloud technology offers the ability to gain better access from a mobility standpoint. In our case, all you need to access iCon is a web browser. Whether in an airport, hotel room, through a smart phone or tablet, you can access the cloud without going through the cumbersome task of loading software onto devices or going through other software applications to get to the actual product portal. Lastly, the ability to customise the product is much greater when you can utilise technology that does not rely on writing code, as traditional enterprise software-based applications would normally require. HFM: What motivated you to think of moving to the cloud What were you looking to accomplish JM: As an asset service provider for the past 23 years, HFMWEEK.COM 21
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