And because these processes are still largely manual, they also open the funds up to a lot of risk. The process of aggregating data and completing these forms requires hours of time and effort. Even if tax preparation is outsourced, in-house tax and compliance teams still have to collect partner information and package data from their systems and be mindful of any reporting errors that may occur on the side of the entities creating the K-1s.įunds tasked with producing K-1s face similar challenges, especially since they need to collect all of the data needed to complete forms for investors. It’s very easy to see why: investors who allocate their assets in several funds and stocks have to manage a lot of data about the performance of their investments. Some will even completely avoid investing in a partnership that distributes a K-1, which ultimately can prevent them from truly optimizing their investment portfolio. In our own research, we’ve found that 95% of investors believe K-1s are the worst part of investing. The K1x team received overwhelming confirmation from attendees that the analog K-1 ecosystem is creating unnecessary complexity and inherent risk. There’s demand for a better way that enables more efficient investing. Analog processes associated with producing and receiving Schedule K-1 Forms cause administration headaches and compliance risks. The broader and more diverse their portfolio, including bonds, stocks, funds, and even real estate investments, the more likely they were to seek solutions that simplified the gathering and aggregating of data.ģ. In addition to making processes more efficient, attendees noted that they were looking for solutions that reduced costs and compliance risks. We had many conversations with attendees that were seeking solutions to help them improve any and all processes associated with making, managing, and reporting on their investments. Using iConnections’ proprietary platform, attendees could quickly connect with each other, and also easily search, filter, and arrange meetings with sponsors and exhibitors.Ī staggering 14,000 meetings were scheduled over the course of four days - not including the fun networking events and more casual session formats - so attendees could explore the myriad solutions and services on the market. There is still high demand for software solutions and services that enable the optimization of capital marketsĪ big component of the Global Alts experience was the valuable one-to-one networking time. While industry experts certainly added to the dynamic conversations (even debates) within the market, there were a few notable names that brought a buzz of excitement to the event, such as Anthony Scaramucci of SkyBridge Capital and Kim Kardashian, who was there representing her new private equity firm SKKY Partners. The current state and future of inflation.Finding private markets opportunities amid uncertainty.More than 170 speakers provided pointed commentary and analysis on topics like: Of course, the conversations we had with attendees were fueled by a packed agenda that represented a broad range of topics across investment, finance, politics and economics. Despite the more challenging environment, Global Alts was one of iConnections’ biggest events yet: a record-breaking 3,000 investors and advisors came together to network and keep alternative investments moving forward. One may think that economic uncertainty would scare the industry into staying at their home offices. Market volatility is inspiring more dynamic discussions around the future of alt investments. From the sessions to the nearly 180 one-to-one conversations we had with attendees, there were some clear themes and takeaways that represent broader macroeconomic trends and investment topics. We were part of a much larger community of service providers that represent players in accounting, legal, tax, and fund administration. Several members of the K1x team attended Global Alts to connect with the iConnections community, which includes single- and multi-family offices, wealth managers, pension funds, investment consultants and more. This year, the event was held January 30 to February 2 at the Fontainebleau in Miami Beach, which has become one of the top destinations for the finance and hedge communities. IConnections Global Alts 2023 is one of the premier annual events for executives representing some of the world’s leading allocators and funds.
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