Training Objectives

Participants of this seminar will be offered the opportunity to:

• Attain an overview of AIF Funds and their legal characteristics
• Gain a deep insight into the role and operations of the Fund Administrator
• Understand essential systems and processes required to carry out the fund administration function effectively and efficiently

Training Outline

An Introduction to Cyprus Funds

• Timeline of Legal Developments
• The Cyprus Fund Market today: A glance at statistics
• The various types of Funds and their classification, the legal form and structure, basic legal characteristics of AIF Funds
• Types of Management: Externally Managed vs. Self-Managed
• The ‘Mini Manager’
• The Registered AIF (RAIF)
• The various actors in the Funds’ industry and their respective Roles 

Transfer Agent and Units Register

• The Transfer Agent Function
• Subscription of Units in the Fund
• Information/documents required before subscription
• Unit Holders Register
• Redemption of Units from the Fund
• Suspensions of Redemption
• Marketing and Distribution of Units
• Test of Well-informed/Professional Investors
• The Transfer Agent Process and information Flows

AML and Investor Compliance

• AML and KYC Systems and Procedures
• Customer Due Diligence
• The Risk Based Approach
• The 4^thAML Directive
• Investor Documentation Requirements
• Building Investors’ Economic Profile
• Reporting for AIF Funds

Fund Accounting and the Valuation of Assets

• Organisational and Operational Procedures & Measures
• Information Flows & Trades Processing
• Cash Movements and Reconciliation
• Accrued Expenses and Fees Set Up
• List of Expenses Illustration
• How to treat corporate actions/security prices/exchange rates
• Pricing methodology and Valuation
• An Illustration of NAV Price calculation
• Statistical Reporting

Tax on AIF Funds

• Basic Tax Provisions on Funds
• The Common Reporting Standards and their effect on AIFs

Upcoming Legal Developments

• Regulating the Fund Administrator

Who Should Attend

The programme will benefit several professionals and job functions:

• 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
• Other Professionals who wish to gain an insight into Cyprus Funds Law and more specifically Fund Administration

Training Style

The programme is designed to deliver knowledge and enhance participants’ skills via short lectures, case-studies and practical examples. Participants will also benefit from feedback and take away the knowledge gained to be transferred to their workplace.

Questions by participants will be answered throughout. Real time examples and document samples will also be provided, where available. Participants will be interactively involved through an exchange of views and personal professional experiences.

CPD Recognition

This programme may be approved for up to 10 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.

In-house Training

For groups within the same organisation, this course may be customized to meet any specific needs and delivered in-house.