COOConnect: '40 Act Funds Advised to Tread Cautiously with Turnkey Platforms

Financial Services partner George M. Silfen was quoted in an article appearing on COOConnect.com about the cautions hedge fund managers who are launching regulated products should take with traditional turnkey platforms. Mr. Silfen was quoted as saying that while turnkeys provide a registered alternative funds managers a “quick and easy way…to outsource a lot of the work,” managers should be mindful that traditional turnkey platforms can be “bureaucratic and inflexible, particularly around corporate governance as the board of directors is appointed by the turnkey’s administrator.” He also warned that turnkeys can be inflexible and “not always in tune to real-time events happening at the managers,” and that managers also run the risk of “reputational harm” from unaffiliated funds on the same turnkey platform.