What are unit registry services?

Unit registry services form the operational backbone of private fund administration, maintaining official ownership records and processing investor transactions for real estate, private credit, private equity and venture capital funds. These services encompass unit issuance, transfers, redemptions, and comprehensive record-keeping, ensuring accurate tracking of investor holdings.

Core Functionality

Typically, unit registry services encompass the following:

• Investor Onboarding and AML / KYC: Onboarding of your investors and implementation of your AML program, including KYC and CDD.
• Capital Calls: Issuance of call notices, statement import, deposit reconciliation, and preparation and provisioning of deposit receipts.
• Distributions:
Calculation of investor allocations and withholding amounts, preparation and provisioning of distribution statements and payment files.
• Reporting & Documentation: Distribution of documentation, including fund performance reports, financial statements, investor holding statements, and similar.
• Transactions: Management of unit issues, transfers, and redemptions, including the issuance of investor confirmations and payment files.
• Tax Statements: Support in the calculation, preparation, and distribution of year-end tax statements for investors.

Regulatory Compliance Driving Adoption

As regulatory obligations become more stringent globally, precision in registry operations is no longer optional. Fund managers need audit-ready systems that can automate compliance tasks, maintain complete records, and withstand scrutiny from regulators and investors alike.

Global Trends - Around the world, fund managers are responding to rising compliance burdens by adopting integrated fund administration platforms that streamline reporting, automate data validation, and maintain robust audit trails.

United States - In the U.S., the SEC’s Private Fund Rules require quarterly statements and annual audits, pushing fund managers to upgrade to systems that can handle complex reporting obligations with precision and transparency.

Australia - Australia’s financial service providers, including fund managers, have long been subject to AML/CTF obligations under the existing regime. However, upcoming reforms, including expanded regulatory scrutiny and increased enforcement activity in line with Tranche Two, are prompting firms to modernise their registry systems. By 2026, regulators are expected to demand stronger compliance frameworks, auditable records, and real-time reporting capabilities.

New Zealand - Amendments to the AML/CFT regime introduce enhanced customer risk rating standards, along with expectations around business continuity and secure technology systems. Fund managers are increasingly turning to platforms that can automate these obligations and ensure compliance across multiple regulatory regimes.

Streamline Fund Operations

Caruso combines expert registry operations with modern software, enabling fund managers to outsource these critical administrative functions whilst maintaining full visibility and control over their investor data. Contact our team at [email protected] to learn more.