European Institute of Management and Finance | Certificate in Investment Fund Services
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Certificate in Investment Fund Services

Certificate in Investment Fund Services


Professionals in financial services and particularly those in the fund sector need to have sound knowledge and a clear understanding across a scope of areas pertaining to Funds, including the specifics of the industry, the varying fund structures, the legal framework, fund strategies, taxation and other vital areas, so as to be able to effectively perform their duties and manage their responsibilities accurately, whilst assist their clients and organisations achieve the required outcomes.



Training Objectives


Upon completion of the Certificate programme participants will:


  • understand the investment environment
  • examine how a fund structure is created
  • appreciate the roles of the key principals of a fund – the fund manager, the fund administrator and the fund’s governing body.
  • understand the relationship between NAV and the performance of a fund
  • examine different fund types, structures and services available to investors in offshore jurisdictions
  • appreciate the legislative and regulatory frameworks affecting the funds sector



Training Outline


The Fund Industry


  • Overview of the funds industry
  • The assets under administration (AUA) and assets under management (AUM) from a valuation or set of basic financial statements
  • The meaning of the term mutual fund
  • Some of the stock exchanges an entity may be listed on
  • The difference between closed- and open-ended funds
  • The different stakeholders in a fund
  • The key roles that support fund operations
  • The roles of the fund and client accounting teams


Fund Structures


The different fund structures, including

  • Investment companies
  • Partnerships
  • Unit trusts
  • Multi-class funds
  • Master feeder funds
  • Protected cell companies (PCCs)
  • Incorporated cell companies (ICCs)


The principle documents used in the management, administration and safekeeping of each structure


Fund strategies


The differences between the following fund strategies

  • Retail funds
  • Alternative investment funds
  • Fund of funds
  • Private equity funds
  • Real estate funds
  • Debt funds
  • Structured products


Fund Accounting and Fund Valuations


  • Key terminology in relation to accounting and valuations
  • The PNAV and FNAV, calculating a simple NAV and NAV per share
  • The common investment transactions and balances
  • The valuation process at a high-level
  • Calculate key income and expense streams of funds
  • Share issues and redemptions, and the factors affecting them
  • The simple reconciliations carried out in a fund
  • The concept of accruals and prepayments
  • A high-level awareness of the basics of financial statements




  • The basic principles of taxation in fund structures and simple tax calculations
  • The components of the ‘mind and management’ test for fund residence
  • The tax treatment of different fund structures
  • The concept and calculation of withholding tax
  • The transfer pricing
  • The Value Added Tax (VAT) and its effect on funds, carrying out a simple VAT calculation
  • The basics of real estate taxation




  • The regulations affecting funds
  • Overview of:
    • FATCA and CRS
    • AIFMD
    • UCITS
  • The key types of documentation and reports that are usually filed with the regulators
  • The obligations on the fund, fund manager and the administrator under company law
  • The requirements on the fund, fund manager and the administrator in relation to anti-money laundering (AML)



Training Style


The Certificate is designed to deliver knowledge and enhance participants’ skills via short lectures, interactive case-studies and live practical examples. The use of real-life material will help participants to think critically about scenarios that will be relevant to their respective roles and organisations.



Who should attend


The Certificate is suitable for those working in, and those seeking to work in, fund administration, fund custody, fund management, back office support or fund operations. It will be of interest to people working in the asset management and investment funds areas in the legal and auditing advisory firms.