Closing The Friction Gap: The New Rules Of Fund Administration In The Retail Era

By Andrew Dipkin, Head of Funds, Americas at ZEDRA

As institutional allocations hit their natural ceilings, GPs have pivoted toward the estimated $100 trillion held in individual wealth globally.

However, as we move into this “Retail Era,” a dangerous rift has emerged. It is the gap between the sophisticated, high-friction reality of private assets and the “on-demand,” frictionless expectations of the retail investor. For the fund administrator, this is no longer a matter of simply processing trades; it is fundamental re-engineering of the industry’s plumbing.

If the front office is where the capital is raised, the back office is now where the reputation – and the viability – of the fund is defended.

Retail capital doesn’t just change who invests, it changes how a...