Nordgain now offers accounting services for funds operating in Lithuania
The accounting services company is now offering complex accounting services to investment funds and licensed investment companies operating in Lithuania. Not only will the new service cover traditional accounting services, but it will also take on the tasks of regulating the net asset value of fund managers, managing internal processes, and reporting to the Bank of Lithuania as well as other institutions.
According to Agnė Jasinskaitė, Nordgain CEO, the digitalization of the company’s services allows to manage complex accounting processes, adds to quick and efficient communication with clients as well as – taking on new challenges. The company has been providing fund accounting services in foreign jurisdictions for some time.
According to Jasinskaitė, the niche to create less regulated management companies and alternative investment funds in Lithuania emerged only after the adoption of the Law on Collective Investment Undertakings Intended for Informed Investors. The more favorable regulation has triggered the investment fund market.
“Lithuania’s investment market is young. We do not have many companies providing investment services, and there is also a lack of infrastructure to serve them. Although a fund management company can have a separate accounting department, it is easier and more efficient to hire a bookkeeping company: there is no need to constantly invest in the employee’s training,” she says.
The fund accounting service offered by Nordgain is part of the Lewben Group’s one-stop-shop Fund Hotel service. This means that the company’s specialists provide the necessary documentation, licensing processes, accounting, reporting, and other operational issues, from product creation to day-to-day operation.