FUNDS ADMINISTRATION

Qualified Services

• FUNDS ADMINISTRATION

  Some of the main responsibilities of an administrator of funds under rules and regulations in force and the rules set in the ANBIMA Code of Best Practices for the Administration of Third Party Resources, are:

  • Preparation of By-laws, Prospectuses, and Terms and Conditions
  • Publication of notices and organization of General Meetings of investors
  • Update and maintenance of legal documentation
  • Releases and disclosure of fund information to investors and regulators
  • KYC, AML and maintenance of records of investors
  • Maintenance and update of: (a) Register of investors; b) Minutes of general meetings; c) Attendance in general meetings; d) Opinions of auditors; e) Accountancy records of funds’ transactions and assets; and f) Documents relating to the funds’ transactions.

• CONCILIATION AND RECONCILIATION

  Some of the main responsibilities of a supplier of conciliation and reconciliation services according to rules and regulations:

  • Assets: Financial assets in the portfolio; records of account movements, transactions, provisions and expenses; positions and the processing of transactions with assets from the portfolio with custodians and deposited in central depositories; records of expenses such as audit and administration fees, and regulatory taxes
  • Liabilities: Records of shares issued, redeemed and transferred; register of investors, investor positions, and net asset value of positions; Calculation of performance fees, entry and exit fees, as applicable; Calculation and withholding of taxes in redemptions; Information to courts, regulatory authorities, and service suppliers authorized by the Administrator

  The conciliation and reconciliation services division is also responsible for the pricing of assets and financial instruments (according to our Pricing Manual), calculation of the net asset value per share, and providing accounting information for the fund’s accountants, and update and maintenance of records in systems

• ACCOUNTING

  Some of the main responsibilities a supplier of accounting services, under rules and regulations in force and the rules set in the ANBIMA Code of Best Practices for Qualified Services in the Capital Markets, are:

  • Make daily accounting entries referring to information from asset and liability controls
  • Prepare financial statements and make them available for publication
  • Provide information to regulatory bodies
  • Reconcile the financial statements with the information received from the conciliation and reconciliation services
  • Maintain and keep books, balances and financial statements

• CUSTODY

  Some of the main responsibilities of custodian, under rules and regulations in force and the rules set in the ANBIMA Code of Best Practices for Qualified Services in the Capital Markets, are:

  • Physical and financial settlement of financial assets receivable or payable, including the financial settlement of derivatives
  • Holding financial assets, including safekeeping, control and conciliation of positions in assets held in custody accounts
  • Treatment of movement instructions and the management and information of events attached thereto; and
  • Payment of fees relating to custody activities, such as records in depositaries, clearinghouses and others.
  • Financial and operations management (accounts payable, accounts receivable, payment of taxes, audit and fees); and

  Physical and financial settlement includes:

  • Review and validation of documents confirming the fund's assets
  • Informing divergencies and discrepancies to the parties; and
  • Performing all required activities necessary for the transfer of custody of an asset.

• REGISTRAR AND TRANSFER AGENT

  Some of the main responsibilities of a registrar and transfer agent, under rules and regulations in force and the rules set in the ANBIMA Code of Best Practices for Qualified Services in the Capital Markets, are:

  • Registration of investors, changes and updates in the investor records, as well as property rights and collateral pledges, and other guarantees given in connection with the property of rights
  • All the procedures relative to the deposit or registration of assets with respective central depositaries and central registrars
  • Calculation and distribution of events such as amortization, interest and other income payments
  • Statements and reports of account balances; and
  • Withholding income taxes and issuing income tax forms and information.