Independent global fund services provider Maples Fund Services will now offer its fund administration offering to the marketplace lending sector.
While marketplace lending is growing in popularity, many professionals do not yet understand its nuances.
“What began as a niche investment opportunity for individuals to lend to each other with modest infrastructure has become increasingly institutionalized,” Maples Fund Services global head Tyler Kim said. “However, these hurdles still stand in the way for fund managers who may not understand the operational difficulty of investing in this asset class.”
Because most marketplace lending funds are made up of many individual deals with unique terms, proper record keeping can be cumbersome. As the industry grows, detailed records will be necessary to attract added investment.