Fund Administration A to Z

Fund Administration A to Z

In the last few years, Cyprus has grown to be one of the fastest emerging fund markets in Europe. The passing of the Alternative Investment Fund Law of 2014 and the transposition of the UCITS IV Directive into domestic Law in 2012 have harmonized the local regulatory framework in line with the EU fund regulations, increasing the country’s competitive position and opening the market for the set up of Cyprus funds which can be marketed domestically and in the EU.  With a market now built on strong legal foundations, the business environment is created for fund managers, custodians, and administrators to operate and with their significant contribution the Cyprus fund market shall continue developing.

Participants to this seminar will be given the opportunity to gain deep insight in the role and operations of the fund administrator and the systems and processes essential to carry out the fund administration function effectively and efficiently.

Course Content

• An Introduction to Cyprus Funds: The Funds Market in Cyprus, The Legal Framework and Scope, The various types of Funds and their Classification, a Description of the Umbrella Structure, the main Players and an Overview of their Respective Roles, Harmonization of Product and ‘EU Pass-porting’.

• PART A – Fund Set Up and Licensing: Analysing the process of setting up a fund from A to Z as the Promoter of an authorisation application. Assessing the needs of the client to create the most suitable structure, the correct drafting of Offering Documents, gathering the appropriate KYC documentation, the acceptable certification of documents as per the 4^th AML Directive, liasoning with the Regulator and the prospective service providers, time optimization in the licensing process, obtaining authorisation from CYSEC and the post-authorisation Fund Activation steps.

• PART B – Transfer Agent and Units Register. The role of the Transfer Agent, Communication with prospective investors, the processing of subscriptions/redemptions and transfers of units, managing of communication flows with multiple investors, custodians and fund managers, obligatory information disclosure and the maintenance of a Units Register. The efficient use of a Fund Administration Software and the essence to maintain and consistently follow an operations manual and an internal Documents Processing System. The effect of the DATA Protection Act on the handling of documents. Business Continuity & Emergency Contingency Plan.

• PART C – Investor Compliance and KYC: A thorough analysis of all the investor compliance requirements and the gathering and handling of investor KYC documents, source of funds, the effect of the 4^th AML Directive on the duties of the Administrator, the relationship and communication with the investor, the fund manager and the compliance officer of the Fund, the transfer agent and the Regulator. The use of appropriate software and the effect of the DATA Protection Act. The drafting of a Manual and appropriate internal procedures.

• PART D – Fund Accounting and the Valuation of Assets. Basic Fund Accounting and NAV calculation rules, the valuation of assets, the constant gathering of information, the efficient information- flow systems between the administrator and brokers, fund managers and custodians, the optimal use of fund accounting software and internal information management systems, Statistical Reporting, the maintenance of information and DATA protection.

• PART E – The upcoming new regulations on the Fund Administrators. How they will be affected and the steps they will have to take to fully comply.

Who Should Attend

Investment Funds Professionals, Fund Administrators, Fund Custodians, Legal Professionals that deal with Funds, Compliance Officers, Investment Advisors, Portfolio Managers, Risk Managers, Accountants, Fiduciary Service Providers and other Professionals who wish to gain an insight into Cyprus Funds Law and the Cyprus Funds Industry.