Opus Wins 1,000th Client
Opus won its 1,000th client since launching in 2006. This new client is a L/S Equity fund launch with $10mm in AUM. We look forward to continuing our organic growth in future quarters!
Opus Expands Private Equity Team
To ensure that Opus continues to deliver a high level of client service, we've expanded our internal Private Equity team. This exciting and growing team taps into Opus' proprietary technology and global offices. Clients will continue to receive a robust service offering via their dedicated contacts in our Naperville, Illinois office.
GAAP Financials
Months into audit season, Opus continues to provide quality GAAP deliverables. Take a look at our Q1 GAAP progress below.
COVID-19 Early NAV Delivery
The pandemic has affected us all. At Opus, our goal has been to utilize our business continuity plan to help clients and their investors in the best way we can. Where possible, and at no extra charge, we made best efforts to deliver our work earlier than our contractual deadline. By doing so, we gave our clients more time to complete their reviews, ultimately allowing earlier reporting to investors. Every little bit helps.
Portfolio Recon
Throughout Q1, the focus on our reconciliation tool shifted from application development to rigorous testing and refinement. Opus was extremely excited to get this tool into the hands of a select group of internal users to begin utilizing the ‘Smart Automation’ capabilities and assist with creating monthly production efficiencies. The next few quarters will involve the development and integration of a valuation policy module and additional improvements to workflow and reporting.
Over the past three quarters, Opus has been developing, testing, enhancing and deploying an inbox management tool to support our standards for exceptional client-service and creating streamlined and efficient operational processes. Mosaic has proven to be an invaluable resource for the current Audit season, increasing the oversight and assignment of tasks and ensuring swift response times to external queries. Currently, four Opus support teams are fully onboarded and successfully utilizing this tool to manage email correspondence. All client inboxes are compatible and very large clients with thousands of emails are currently being tested for full integration.
Coming Soon: Symphony 2.0
Opus Fund Services is excited to share the forthcoming newly upgraded proprietary client dashboard, Symphony. The platform includes a sleek, intuitive design, aiding in overall better navigation and utilization, and more. Stay tuned for launch details in Q2. 

Opus Shortlisted in Four Categories for the Alt Credit US Services Awards 2020
Opus Fund Services was shortlisted in four categories for the Alt Credit US Services Awards 2020—Best Technology Innovation; Best Fund Administration – Private Credit; Best Debt/Loan Administrator; and Best Administrator Overall. The awards took place on February 12th at the Metropolitan Club in NYC. Read more here. 
Automation as a Key to High Quality Service
In January, Opus's whitepaper—Automation as a Key to High Quality Service—was included in Hedgeweek's US Hedge Fund Start-Up Guide 2020. Download the whitepaper here. 
Opus Fund Services generated a number of new client relationships during the first quarter of 2020. Opus onboarded 22 new funds, across 21 client relationships during Q1. As illustrated in the chart below, new client activity was weighed towards Traditional Hedge Fund strategies this quarter.

New Client Breakdown, Q1 2020

Opus now has around 384 client relationships resulting in over 626 funds being live in the Opus platform.

We look forward to continuing our growth in Q2 2020, with 82 new funds planned to launch during the second quarter.

Q1 Client Wins
Opus celebrates all of our client wins and appreciates the opportunity that each represents. Here are three brief samples of some of our recent client wins.
Client 1
This L/S Equity client was a conversion to Opus from a larger fund administrator. They were looking to align themselves with a fund admin that would provide all of the same institutional grade services that they had been receiving, but that would line up from a cost and customer service perspective. As a sub $10mm fund, with the hopes of growing, they realized that the fees they were paying their large, “top 3” admins was not resulting in a smoother operational experience for them on a daily basis, especially in relation to the fees they were paying. This is an example of how Opus can help funds that chose the largest firms at launch, but are realizing the value is not necessarily there.
Client 2
This existing fund client was receiving a large SMA allocation from an endowment. They looked for Opus to provide daily portfolio and P&L reporting, daily reconciliations, and fee class calculations. This solution provides the investor with additional comfort and transparency. It also provides greater independence between the two parties, especially having complexity in how the fee classes should be calculated. Lastly, it provided our fund client with greater operational efficiency as he manages this SMA alongside his other fund.  
Client 3
This $25mm L/S Equity fund was also a conversion, but from a smaller administrator. The team has a strong pedigree and after a few years of strong performance, they were gaining traction and growing. They were looking to “uptick” their service providers and chose Opus as a great solution and partner for their future growth. They recognize our institutional quality platform that will be appreciated by investors and also liked that we could provide two full service portfolio options – Monthly and Daily. While they started on the Monthly, they have the option to move to the Daily at any time. This fund also moved to a big 4 accounting firm for audit/tax services and to a PB that also made more sense for their current needs.
Kudos from Clients
Opus champions having the right people, doing the right work, at the right time. Here's what our clients have to say about our work:

"In particular I gave Opus high marks for client touch, the invaluable Symphony system, flawless-to-date accounting and the integrated treasury solution with our bank."
-COO, $13mm AUM

"Everything is A+ — I mean it"
-Director, $700m AUM

"Karl on Implementation is a legend, and such a great teacher; Grace was also an excellent resource in onboarding our Thai investor base; and Kirsten was a huge help while I learned about Opus' Symphony."
-Partner, $5mm AUM

"Thank you for your high level of professionalism and exceptional BCP. We appreciate knowing that things at Opus are business as usual"
-Director, $17m AUM
Opus Spotlight: Alex Lebartkava
This quarter, we are spotlighting new hire Alex Lebartkava, AVP of Portfolio Accounting operating out of our Halifax office in Canada. 

Alex comes to Opus with 10 years experience from both portfolio accounting and fund accounting roles; he began as a Senior Operations Analyst with Citco Canada, transitioning later to MUFG Investor Services as a Senior Fund Accountant. Before joining the Opus team, in his final role as Senior Associate (BPO), he was responsible for the portfolio administration side of a 26 person team on MUFG's largest client ($100bn AUM). 
In his role as AVP, Alex brings support to the Portfolio Accounting team across all offices. His main day-to-day responsibilities are daily and monthly management of certain Opus clients, specifically those on the East Coast. He also assists in other portfolio accounting tasks and offers guidance wherever necessary.

In his spare time, Alex can be found brushing up on the latest tech gadgets, building a poker room in his house, or at the race track taking in the splendor of exotic cars. 
"Since starting with Opus, it has been great to reconnect and work with old colleagues, as well as experience Opus' unique company culture."
Opus New Hires
Over our first quarter, we added a total of 17 new hires to our global team, bringing Opus to a total headcount of 193. Here's a quick snapshot of some of our newest team members.
Jennifer VanSickle
Client Solutions
Operating out of Opus' Halifax office, Jennifer is part of our Client Solutions (CS) team. As a CS specialist, Jennifer acts as the main point of contact for clients ensuring their satisfaction by proactively managing various service deliverables. Prior to Opus, Jennifer spent 3 years at Maitland Fund Services, where she worked in the Investor Relations group most recently as a Senior Administrator. Jennifer also worked as a client services representative at Atlantic Business Interiors, where she handled client relationships, sales support and logistics. She has always loved social roles where she can deliver the best service to clients. Very drawn to the the proactive nature of Opus, Jennifer feels the firm is a great fit. “I look forward to building relationships with clients and learning a broader range of knowledge surrounding the fund services industry,” she says.
Joseph Canada
IT Security Specialist
Joseph works as an IT Security Specialist out of Opus' Brentwood office. He has been working in IT as a HelpDesk Coordinator for nearly 4 years, previously at a home healthcare company. There, he assisted with the creation and administration of the company's HelpDesk, and wore many hats that crossed departments, from auditing to inventory to facilities. His dedication, creative problem solving, and infectious positivity was cultivated during a previous career in Cosmetology. As IT Security Specialist, Joseph's role is to protect the company, network, data, and the users within it. He will be providing support on investigations and working with our cyber team in researching, planning, and training for our program."I look forward to continuing to grow my knowledge of cyber security here with Opus," Joseph says.
Opus Employee Q1 Milestones
Our employees' tenures are a true testament to the environment Opus champions across all of our offices. We thank everyone for their continual hard work and dedication to the firm, and we celebrate team members celebrating milestones during Q1 specifically. 
1 Year
Cristel Mae Conching
Marlene Noscal
Laarni Lomahan
Jamie Cayanan
Jairo Panhilason
Gloria Omoregie
Julie Zastresek
Daneca Gray
Ronnie Requinto
Rina Mariano
Dante Jr Julian
Shaira Ojendras
Jill Illsley
Rodney Baran
Lemwel Valencia 
Jessa Ivy Canones
1 Year (cont'd)
James Mitchell Policar
Elaina Hampson 
Richelle Senas
Reginald Canlas
Michelle Ann Gerardo
Desiree Mae Carawana
Mark Angelo Pasion
Jenny May Difuntorum

2 Years
Lucy Kilroy
Raymund Purugganan
Katie Murphy
Katherine Lopez
3 Years
Mark Jennings
Esam Hussain
Mayra Guzman
Major Schaeffer II
Kuljeet Kaur
Pamela Patricio
John Ruszkowski

4 Years
Nick Cataldo
Mitchell Buzzell 
Heather McCarthy
Larlie Joyce Aguila
5 Years
Ingrid L Ebeling
6 Years
Grace Rogers
Christian Escareno
Adisa Sipic

7 Years
Jorge Hendrickson
11 Years
Sally Gilding 
Recent Events
Adminovate Dublin 2020
January 16, Cluster in Dublin, Ireland
Opus Dublin representatives attended the Adminovate Conference in Dublin, Ireland on January 16.

Alt Credit US Awards 2020
February 12, Metropolitan Club - NYC
Opus is happy to have sponsored and attended this year's Alt Credit Awards in NYC.

Opus February Industry Happy Hour
February 13, Stout NYC (33rd St. Location) - NYC
Opus kicked off 2020 with our first happy hour of the year at Stout NYC, with approximately 100 attendees.

HFM US Operational Leaders' Summit 2020
February 13, Metropolitan Club - NYC
Opus Business Development Directors John Ruszkowski and Nick Breault attended this year's HFM US Operational Leaders' Summit.

TRS Emerging Manager Conference 
February 26, Austin Convention Center - Austin, TX
John Harnett, Business Development attended the TRS Emerging Manager Conference in February, where Emerging Managers across all asset classes were present. 
Upcoming Events
POSTPONED: Opus Dublin March
Networking Event

Date TBD, The Horseshoe Bar - Dublin, Ireland

CANCELLED: 5th Annual Opus Golf Outing 
May 19, TPC Las Vegas - Las Vegas, NV

CANCELLED: Marquee Nightclub Party
May 20, Marquee Nightclub - Las Vegas, NV

Next Generation Hedge Fund & Alternative Credit Manager Forum 2020
TBD, Online Virtual Event 
Opus is happy to sponsor the upcoming Next Generation Hedge Fund & Alternative Credit Manager Forum 2020, hosted by K&L Gates and AIMA in a new online format, date to be determined. Jorge Hendrickson, SVP, Head of Sales & Marketing, will be speaking on the topic, "Passing operational due diligence as an emerging manager." Stay in the loop by checking in here periodically.
In this unprecedented crisis, Opus is continuing business operations as usual, and has been implementing several business continuity plans to address the COVID-19 pandemic. We understand the critical role we play and are here to fully support you as you continue to run your businesses. 

Stay up to date with the latest measures—click the button below to learn more. 
Opus COVID-19 Updates
Opus Business Continuity Plan
The importance of having a strong business continuity plan (BCP) cannot be understated. Opus is on the cutting edge of preparedness, and we take full advantage of our ability to access data from anywhere, at any time, regardless of device.
Read our Business Continuity Plan Here
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