Released on: October 16, 2008, 4:22 am

Press Release Author: Anand Singh

Industry: Financial

Press Release Summary: Basiz Launches K1 and PFIC statement preparation services for
Hedge & Private Equity funds

Chennai based leading accounting service provider Basiz fund service today launched
K1 & PFIC statement preparation services for Hedge and private equity clients.
Schedule k1 is required to be filed annually by each limited partner of a US
domiciled fund. Funds & Fund administrators are requested by these limited partners
to issue schedule K1. PFIC (Passive Foreign Investment Company) is a statutory
requirement required to be filed by any US investor who is directly or indirectly a
shareholder of a PFIC. Basiz would help prepare the Annual Information Statement for
each of the PFIC on behalf of the fund/Management/Administrator of each of these
funds. " We see strong demand for these niche services coming from US and other
parts of the world in days to come. Recent global turmoil has forced companies to
outsource core and non-core accounting activities to low cost and efficient
accounting & consulting service providers like Basiz. Basiz offer a full range of
end-to-end or decoupled accounting services to alternative asset managers. Strong
process discipline interwoven with deep domain knowledge is our forte" said Anand
Singh, Associate Vice President, Middle East & North Africa at Basiz.
Apart from K1 & PFIC, Basiz also offers Offshore model based accouting services to
Mutual funds, Private Equity firms, Asset Managers & Portfolio Managers. It services
some of the top names globally.






Press Release Body: Basiz Launches K1 and PFIC statement preparation services for
Hedge & Private Equity funds

Chennai based leading accounting service provider Basiz fund service today launched
K1 & PFIC statement preparation services for Hedge and private equity clients.
Schedule k1 is required to be filed annually by each limited partner of a US
domiciled fund. Funds & Fund administrators are requested by these limited partners
to issue schedule K1. PFIC (Passive Foreign Investment Company) is a statutory
requirement required to be filed by any US investor who is directly or indirectly a
shareholder of a PFIC. Basiz would help prepare the Annual Information Statement for
each of the PFIC on behalf of the fund/Management/Administrator of each of these
funds. " We see strong demand for these niche services coming from US and other
parts of the world in days to come. Recent global turmoil has forced companies to
outsource core and non-core accounting activities to low cost and efficient
accounting & consulting service providers like Basiz. Basiz offer a full range of
end-to-end or decoupled accounting services to alternative asset managers. Strong
process discipline interwoven with deep domain knowledge is our forte" said Anand
Singh, Associate Vice President, Middle East & North Africa at Basiz.
Apart from K1 & PFIC, Basiz also offers Offshore model based accouting services to
Mutual funds, Private Equity firms, Asset Managers & Portfolio Managers. It services
some of the top names globally.





Web Site: http://www.basizfa.com

Contact Details: Anand Singh
Basiz fund services Pvt ltd
301-303, Solaris 2,
Opposite L&T gate no 6
Saki Vihar road,
Andheri east
Mumbai-400076