Multifonds, a provider of single-platform multi-jurisdictional investment fund software, has responded to the changing demands of fund administration for hedge funds by releasing Multifonds Transfer Agent v3.60.

According to the company, the latest release includes 12 significant extensions to the hedge fund, performance fee equalization and series of share functionality.

The release includes extensions to dividend distribution capabilities for equalization or series of shares funds, as well as the ability to on-board funds between crystallization periods by catering for the migration of performance fee history.

Multifonds global head of transfer agency Keith Hale said that the fund administrators and fund managers need increasing flexibility to respond to the changing needs of hedge fund administration. Examples of this include performance fee equalization and series of share processing, to ensure that incentive fees are fairly allocated between all the investors in a fund.

"We have been working closely with several fund administrators that had previously run legacy in-house systems, and moving them onto Multifonds Transfer Agent. As a result we are consolidating the processing and supporting platforms of their hedge and UCITS funds," Hale said.