02.01.2012

Opus Fund Services Completes SSAE16

Opus Fund Services today announced the successful completion of its SSAE-16 (formerly known as SAS70) examination, by a leading auditing firm. The independent examination, which yielded no exceptions, evaluated the design of the Opus control environment, and if these controls had been operating effectively for the year ended October 31, 2011.

Robin Bedford, Opus CEO said “The Opus model always looks to operate within a ‘Best Practices’ environment and the successful completion of the new SSAE16 examination continues the year-over-year accreditation of our platform in that regard.”

“As we continue to enhance our operating platform, we are committed to operating at a level that meets or exceeds the highest industry and regulatory standards.” said Stephen Giannone, Opus’ President.

SSAE No. 16 is now effective:

The report includes testing on a broad range of internal controls including implementation; account management; security master setup and maintenance; trade capture; price master valuation and price verification; gains and losses recognition and capture; corporate actions processing; income and expense recognition and capture; cash management; net asset value reporting; subscription, redemption and transfer activity; and investor standing data maintenance. From an information technology perspective, the examination included controls related to change management; information security; and back-up and recovery.

About Opus Fund Services:

Opus Fund Services was established in 2006 and is a leading independent and privately owned full service fund administration company providing automated, integrated middle and back office administration services to hedge funds and asset management firms. In 2011 Opus was named Best Overall Administrator for Small & Start Up funds at the HFMWeek Awards, and “Top Ranked” fund administrator by Global Custodian for the second year in a row.

Opus Fund Services has offices in Bermuda, Chicago, Naperville and San Francisco. Opus Fund Services (Bermuda) Ltd. is licensed by the Bermuda Monetary Authority under the Investment Funds Act 2006. For further information see www.opusfundservices.com or contact one of our offices.