MMG Fund Services - Services : Administration

Administration

Due-diligence & Documentation It has become increasingly important for financial intermediaries and investment service providers to ensure that investors are properly identified and the source of the funds being invested verified. Failing to have these policies and procedures in place can make it difficult for a fund to operate, affecting its ability to establish business relationships with reputable financial institutions. This lack of controls can cause harm to investors and the investment manager if an account of the fund were restricted or frozen. As part of our value-added service, we employ our resources and knowledge of regulations and procedures to ensure that these “Know your Client Policies” are followed and documented.
Subscriptions After the due-diligence is complete and the funds cleared before the dealing date, our back office will process the subscription and proceed to make them available to the investment manager. The frequency of subscription may be set to weekly, monthly, quarterly, semi-annually or annually. Once the NAV for the period has been calculated and approved by the accounting department shares are issued and the transaction is confirmed to the investor through a contract note. Redemptions Since Mutual funds don’t have a set maturity date, in order for an investor to liquidate his/her investment in the fund, shares have to be redeemed at the NAV calculated on a dealing date. Redemptions may be partial or whole and are typically allowed with the same frequency as subscriptions. Once the redemption form has been submitted and the funds have been made available by the investment manager, the proceeds are sent to the investors.
Shareholder communications & reporting Although acting as share registrar for the fund is an incidental responsibility, it requires operating procedures to maintain shareholder information accurate. MMGFS will serve as the primary point of contact for the fund’s investors. Therefore responsible for the delivery of the periodic communications, such as valuation reports, newsletters, investment commentaries, audit reports and other information about the fund.

< Set up & Registration \| Accounting >