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.
Training Objectives
Participants of this seminar will be given the opportunity to gain a brief overview into AIF Funds and then a 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.
Training Outline
An Introduction to Cyprus Funds
Historical Background: From the ICIS to AIF
The Legal Framework, Scope and Developments
An overview of the Cyprus Fund Market today
The Prospects and the Constraints
The various types of Funds and their classification, the legal form and structure, basic legal characteristics of AIF Funds
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 4thAML 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 new Tax provisions introduced in 2018
The Common Reporting Standards and their effect on AIFs
Upcoming Legal Developments affecting Fund Administrators
How they will be affected and the steps they will have to take to fully comply
New Law aiming to regulate the Administrator
The Mini Manager
Training Style
The programme’s context and educational material will be illustrated and explained to participants in detail. Questions by participants will be answered throughout. Real time examples and document samples will be provided, where available. In certain occasions, participants will be more interactively involved through an exchange of views and personal professional experiences.
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
Investment Fund Administration Operations
For 3 registrations from the same entity, a standard 10% discount will apply. For over 4 registrations please contact us.
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