11.28.2017

Think Alternatively

Robin Bedford, Opus CEO, explains the meaning behind the new Opus marketing campaign and how Opus is changing the fund administration landscape.

I began working in the hedge fund industry nearly 20 years ago. At that time, fund administrators fell into one of two camps:

First are the “haves”. Firms with institutional backing and deep pockets. They invested in expensive off-the-shelf technology solutions, sat in prime real estate, filling their expensive offices with employees. Lots of expensive employees. Every time they were faced with a challenge, they hired ever greater numbers of expensive people. Ultimately, these firms relied on engaging with very large funds, using a basis points fee model to cover their ever-burgeoning cost base. This business model created an inherent barrier for start-ups looking to enter the industry.

The other type of fund administrator was the “have nots”. These ‘boutique-style’ self-funded firms attempted to transcend the barriers to entry, by offering cheaper solutions. Typically operating from a single office and using simplistic technology. They offered a “custom service”, which in many cases translated to a lack of standardization in their product. This typically wasn’t through intentional design; rather, the flexibility of their operations platform, and slow organic growth, did not necessitate the utilization of a clear, repeatable process.

In the immediate aftermath of the financial crisis in 2008, I compiled a team to rewrite the rules of fund administration.  Each team member had an intimate knowledge of the industry, having sat on both the buy and sell side. Their remit was simple. To peel back the layers of fund administration and question everything.

Through our research, and leveraging our industry experience, we developed a pioneering, disruptive offering that provides the best of both worlds. An institutional product delivered through an innovative proprietary technology platform, distributed through a global operations network, and at a price point attractive to managers of all sizes.

Today Opus has a team of over 100 talented individuals who operate in an incredibly innovative culture. We refuse to accept the industry standard as default; we question and challenge the norm, with a focus to constantly improve every aspect of our business.

Each employee is empowered to share their vision in the pursuit of creating something better. Over 10% of our employees are dedicated to reviewing, developing, and implementing carefully controlled improvements inspired by ideas generated by every single employee.

Working at a firm that is constantly revolutionizing is incredibility exciting; We continue to have lots of innovative ideas which are currently being turned into reality. Our quarterly updates will inform you of our continued progress. As we continue to “think alternatively” and change the fund administration landscape. (Click here for the full story PDF)