Conifer Group Completes SSAE 16 Type 2 Examination

SAN FRANCISCO, Feb. 21, 2012 /PRNewswire/ -- The Conifer Group, LLC (Conifer)—a leading provider of fund administration, middle office, trading and prime brokerage services—today announced that it has successfully completed its examination under the Statement on Standards for Attestation Engagements (SSAE) 16 Type 2, following an independent examination by the accounting firm, BDO USA, LLP.   

The examination, which focused on the Conifer Fund Services divisions in the US and British Virgin Islands, evaluated the effectiveness of control processes within Conifer's portfolio accounting, fund administration, managed application service hosting and middle- and back-office service infrastructure. 

"For 23 years, Conifer has enabled hedge funds to thrive in a rapidly changing market through services backed by a robust operational infrastructure," said Jack McDonald, CEO of Conifer. "Conifer's ongoing investment in operations and technology, namely the development of our new cloud-based product offerings, will ensure that our products continue to evolve ahead of industry and regulatory needs."

Douglas Lang, Managing Director and Global Head of Conifer Fund Services, added, "The successful completion of this examination underscores Conifer's ongoing commitment to exceeding industry standards. Our systems passed rigorous tests, demonstrating the strength of our operational and control framework."

SSAE 16, which replaces the former SAS 70 standard, is an internationally recognized reporting standard developed by the American Institute of Certified Public Accountants (AICPA) that reports on a service organization's controls over services it provides to user entities when those controls are likely to be relevant to user entities' internal control over financial reporting. The examination covered selected controls over Conifer's services for the period from December 1, 2010 to November 30, 2011.

About The Conifer Group, LLC
The Conifer Group, LLC is a leading provider of middle- and back-office services to the asset management industry, including global fund administration, middle office, prime brokerage and trade execution. Conifer's iCon™ platform is the first and only cloud-based solution delivering an entire suite of asset services, including a customizable data repository and in-depth attribution reporting portal. Conifer's fully outsourced middle- and back-office offering appeals to both start-up and established asset managers. Headquartered in San Francisco and with offices in New York and the British Virgin Islands, Conifer has been in business since 1989. For more information, please visit http://www.conifer.com.

SOURCE The Conifer Group, LLC