By Rebecca Zuill

Ikonic Fund Services has won the HFMWeek Best Administrator Award for Fund of Hedge Funds under $30 billion, and was also the fund administrator with the most nominations.

The award was made last week at the 2014 HFMWeek Service Provider Awards in New York City.

A press release from IKONIC announcing the award said: “The Awards ceremony presented by HFMWeek included representatives from many of the industry’s most recognised service providers. The esteemed award IKONIC received exemplifies the focus that the firm places on providing its clients with a top tier client service offering coupled with leading technology and reporting.”

Accepting the award on behalf of Ikonic, Brian Desmond, the firm’s chief operating officer and chief financial officer, said: “It is humbling to be recognised by an independent panel of HFM judges for the service we provide our clients. We are extremely proud of the business we have built over the past seven years and are even prouder to be recognised for our efforts.”

Ikonic, which was formally called Isis Fund Services, has recently changed its name because, they said: “Even though it was a difficult decision to make, the board of directors and management were in full agreement that the company simply could not continue to share the name of a terrorist organisation.”

The independent fund administration company provides accounting, investor servicing, corporate secretarial and other services to alternative funds.

Ikonic services over 140 client entities from Bermuda, Charlotte and Cayman offices and clients range from emerging managers to large institutional funds.

Useful website: www.ikonicfunds.com