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Fund administration

A Cost Effective Customizable Solution

Customisation and industrialisation rarely go hand in hand. However, our Fund Administration business line has identified the strengths of both approaches and, in doing so, has managed to forge a model that uses the best of both worlds, allowing controlled costs yet high adaptability.

Indeed, on the one hand, our Fund Administration platform is shared by all CACEIS entities allowing cost efficiency and reporting consistency and, on the other hand, it offers a high degree of flexibility and encompasses a wide variety of functionalities, investment vehicles and domiciles.

«With a wide range of services, CACEIS can help you from fund structuring to fund administration»

Pierre Oger - Group Product Manager

Product details:

  • Fund valuation and accounting

    Our administration platform has been customised with proprietary modules and add-ons designed to answer your needs from 30+ different nationalities. The main functions are:

    - Structuring functionalities (Multi-currency, Multi-account (by CTA), Multi-manager, Multi-class (distinct by distribution policy, currencies, fees, etc.), hedged share classes, entity pooling (master/feeders) - single domicile and cross-border, virtual pooling (4 methods supported)

    - NAV components (Income Equalisation calculation (can be customised depending on the country of distribution and any specific requirement), stable NAV with daily distribution, fees and commissions, with a full range of percentage, tiered, flat, multi-class and multimanager fees covered)

    - Valuation (Multiple pricing sources and valuation points according to a pre-defined pricing policy, anti-dilution solutions)

    - Accounting (local GAAP relating to 20+ funds domiciles, IFRS)

    - NAV release parameters (Estimated NAV (multiple times daily), Unofficial NAV for information, approval or other purposes, Early/Late NAV (follow-the-sun model), Portfolio consolidation and look-through, active accounting, technical portfolio valuation)

  • Investors protection

    With the goal of preserving the portfolio performance and to protect long-term investors in cases of market crisis, we have developed over time a certain number of secure processes regarding the management of liquidity restriction measures (delayed redemption payments, lock-up periods, redemption gates, suspension of the NAV, contribution/repayment in kind, side-pocketing.

    In order to protect the portfolio performance on an ongoing basis, we provide you with a complete set of anti-dilution mechanisms which aim at making the subscribers/redeemers bear the cost of rebuilding the portfolio (entry/exit fees, swing pricing).

  • Financial & Tax reporting

    CACEIS provides a full and comprehensive service in relation to specific legislation and regulatory reporting obligations the fund or investor may have in countries of domiciliation and/or distribution:

    - Production of annual & semi-annual reports for investment funds including all information imposed by authorities of countries of distribution e.g. Portfolio Turnover Rate (PTR) and Total Expense Ratio (TER)

    - Tax and fiscal reporting can be customised depending on the country of distribution and any specific requirement (Interim Profit Calculation, UK Distributor Status (for which we provide data in order to fulfil specific UK conditions), EU TIS and TID calculation (Luxembourg and Swiss; Belgian is in process), OeKB reporting, German Tax).

    - Income and capital gains distributions, for which we can at any time, give you an estimation of the amount available for dividend distribution and which is confirmed after the year-end.

  • Technical portfolios

    CACEIS has led the way with its dynamic and pro-active approach to defining products tailored to your specific needs, i.e. geographical coverage of distribution and management style.

    We have developed a recognised expertise in designing and administering asset structuring and pooling products and can have track-record of 20+ years:

    - Share classes or group of share classes, characterised by subscription/redemption rights, fees, currency, distribution policy, hedging, etc.

    - Multi-portfolio functions, aiming to structure a given portfolio into more specialised sub-portfolios (macro-allocation, selection of external managers, mapping internal asset management organisation)

    - Pooling functions, allowing the preservation of asset management efficiency where there is a need for maintaining a certain degree of plurality or diversity in the vehicles used.