Genesis Fund Services selected PFS-PAXUS Fund Administration software

Genesis Fund Services Limited (Genesis), located in Nassau, Bahamas has announced the selection of PFS-PAXUS and PFS-CONNECT for the administration of its funds services. Antoine Bastian, Managing Director of Genesis says, ‘Genesis is the first client in The Bahamas to use the PFS-PAXUS and PFS-CONNECT platforms which are currently used by a sizeable number of fund administrators in other jurisdictions. The breadth of functionality, including online dealing, is very extensive and will put us in an ideal position to administer almost any fund structure that we might be presented with. We look forward to a fruitful and mutually beneficial relationship with the team at PFS.’ Genesis is regulated by the Securities Commission of The Bahamas (the ‘Securities Commission’) under the Investment Fund Act and Regulation, 2003. Genesis is licensed as an Unrestricted Fund Administrator; therefore, Professional and SMART funds and Investment Condominiums (ICONs) can be licensed directly by Genesis. Standard Funds are licensed directly by the Securities Commission. Genesis also provides fund services for non-Bahamian based funds (Cayman and BVI Professional Funds) that are ‘registered’ with the Securities Commission. Pacific Fund Systems (‘PFS’) is a leading provider of hedge fund administration software. PFS services over 70 client sites across multiple global jurisdictions with an excess of US$300bn of assets being managed on PFS-PAXUS, its fully-integrated share registry, fund accounting and allocations platform.