Operational due diligence should now include sophisticated analysis of administrators’ controls, systems and workflows.

Following the recent high-profile security breaches, including direct attacks by vendors on large retailers and the Heartbleed incident, cybersecurity has suddenly become a hot topic.

Welcome to the spring edition of Citco’s Industry Spotlight. In this issue, we bring you our perspective on the ever-evolving regulatory landscape, and, given our role as an asset service provider, we focus on meeting operational challenges as they relate to new products and regions and asset classes, such as private equity and real estate.

For a manager launching a US registered alternative mutual fund, structure is key. Opting for an open-end or closed-end fund and deciding on the trust for the fund have major implications for how it can invest, who can invest in it and how it fits with the manager’s other offerings.