1 / 15

The Challenges and Pressures on Fund Support Going Forward - Nicosia June 2014

The Challenges and Pressures on Fund Support Going Forward - Nicosia June 2014. David Loader The DSC Portfolio Ltd. Change.

lola
Download Presentation

The Challenges and Pressures on Fund Support Going Forward - Nicosia June 2014

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. The Challenges and Pressures on Fund Support Going Forward - Nicosia June 2014 David Loader The DSC Portfolio Ltd

  2. Change “Increasingly, fund sponsors are seeing the administrator as an integral part of the supply chain – and are looking for more value added, over and above core transfer agency and administrative functions – while growth in asset allocation to alternative investments is also a key driver behind outsourcing and acquisitions.” Hedge Week

  3. Challenges in providing Fund Support Services

  4. The Fund Support Universe Assisting with Risk Management and Compliance Administrator and Transfer Agency Tax Advice Auditors Legal Depositary Custody and sub - custody

  5. Fund Administration Fund Set Up Secretarial Technology Risk Management Compliance

  6. Role of Fund Administrators • Companies providing services such as: • Fund establishment and registration • Transfer agency services • Investment administration • Accounting & bookkeeping • Compliance support & statutory reporting • Risk management support & Management Information

  7. The Depositary & Custodian

  8. Summary – Role of the Custodian • Maintain details of and carry out settlement and safekeeping of asset • Manage benefits and entitlements • Stock lending and borrowing • Cash management • WHT reclaims • Proxy Voting Provides core and added value services

  9. Summary – Role of the Depositary Any AIFM running an EU-based AIF will require a full depository solution under AIFMD to carry out three core duties under Article 21 of the directive: • cash management • safekeeping of assets • general oversight of the AIF.

  10. Risk

  11. Operational Risks Type • Documentation • Assets • Fund records • Valuations • Accounting • Fund Register • KYC/AML checks Source • Systems • People • Communication • Workflow

  12. Training and Development

  13. Training and Development Challenge and Pressures • Management skills and experience • Resource levels and allocation • Qualifications and core competencies • Change management Issues/Drivers • Asset allocations • Investor base • Client due diligence • Outsourcing risk • Regulatory, accounting and tax changes

  14. Summary • Changes in the industry have been far reaching and pose many challenges • Firms in Cyprus looking to develop fund support services need to obtain and develop the range of competencies and skills that are now expected internationally • Fund support is highly competitive and firms will need the regulatory and commercial environment to be able to compete

  15. Thank you For details about the Advanced Certificate and Diploma in Fund Administration Contact CIIM or CLT International: cltinternational@centlaw.com +44 121 362 3540 To contact David Loader: dal@dscportfolio.com

More Related