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Prime Administration

Profile:

Prime Administration provides administration support (middle office reconciliation services and settlement administration) to both long only and hedge fund clients. Prime Administration serves as a Prime Broker without the offering of a Prime Brokers traditionalbalance sheet intermediation service. Intermediation services are sourced in the market and enable Prime Administration to provide the most effective package for clients needs:

PROCESS & TECHNOLOGY:
Prime's operations are supported our proprietary developed software systems. Our software systems have developed over the past ten years in response to our clients requirements. The system comprises an integrated front-end trade blotter and portfolio management system. Our database is built on MS SQL 2008 and all applications are written in .Net and use Business objects for reporting. The software used has been developed in house over the last 10 years.

SYSTEMS:
Daily P&L reporting is provided reflecting all reconciled positions, trades for the prior day, cash reporting, mandate and compliance reporting as well as any ad-hoc reports that managers may specifically require.
Trade files are created after receiving trade confirmations from executing brokers and after comparing to corresponding trades that are entered into the P&L system by the managers. Matching is run through the system at the close of each trading day. All trade breaks are queried and changes verified before the creation of the evening report. Any discrepancies with trades that are not settled directly are corrected on T+1.

CONTINUITY:
Prime Administration has invested heavily in connectivity and continuity, with our DRP plan being updated and tested regularly. We have a secondary source of power, a backup site with two machines that can be remotely connected as well as backup telecommunications including wireless internet/ email backup. Daily server backups are made, with a copy of all programming code, daily backups and copies of all server files kept offsite. Our expertise in this area is of assistance to clients that require desktop, programming and continuity support with their operational requirements.

Overview:

Prime Admin was formed out of an MBO of the fund management activities of Decillion Limited in January 2006. Prime Admin has been operational since 1999 within Decillion Ltd providing administration support of the highest standard to hedge fund managers. Our experienced staff work hand in hand with our customers to adapt to their individual needs in this fast paced environment.

Prime Administration is a complete Back and Middle Office solution to any new or existing fund management business. Prime Admin was awarded a Category I FSB Licence on the 13th of November 2007. Prime Securities (Pty) Ltd, a 100% held institutional focused JSE Securities Exchange stockbroker offers equity execution facilities for funds at competitive rates.

As of the end of September 2011, the company provides prime broking and trade settlement services to 13 funds with approximately R2.3bn under management. Administration, middle office and reconciliation services are provided to 8 funds with approximately R800m in assets under management.

Prime Admin has a team of 13 staff members that focus on client servicing. The team includes two CA (SA)s, a JSE qualified stockbroker and a JSE qualified Settlement officer. Between the team there is a significant number of years experience in stockbroking, settlement and fund administration.

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Ascent Limited

Experience The Difference. Ascent Limited provides first class wealth management and family office services. Our private banking team, assembled from a group of highly experienced banking professionals, will provide financial advice tailored to your individual requirements and keep your portfolio in tune with the latest market developments and opportunities.

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