Why
Every deliverable clearly defined in your Fund's Books and Records
How
The process and control activities to follow for each deliverable
Who
People, Systems and Service Providers responsible for each activity
When
A fund service level agreement with the timing and frequency of every deliverable
Where
The delivery locations that make up your Global Operating Schedule
Investment Operations
Every Interdependency with Precision
The old way involves an analysis overhead every time you want to change. The new way is data driven, it involves good hygiene and discipline to provide every interdependency to support the real time decision making demanded by a global operating model.
Deliverables
Books and Records provide the focal point for all of your your Investment Operations activity
Timelines
Target Service Level Agreements provide key measurements to drive operational performance
Dependencies
How you deploy people, systems and service provides to support Investment Operations
Locations
An operating matrix to link Global Operations to local Regulatory and Tax compliance obligations
Functional Outsourcing
Outsource the process
Outsourcing is not a commodity. The unique setup of your fund and how your outsource partners interact is important. It requires a unified approach. If you want harmony you need music sheets for each of your outsource partners.
“Fund Elements Digital Operating Model enables self service for all of our source partners with direct access to setup information for all of our funds.”
Chief Operating Officer - Fund Management Company
GOVERN: 01-SF
Setup the Fund
SCOPE:
Setup the Fund is about the legal and regulatory work to establish the fund structure, create the investor agreements and achieve regulatory authorization.
INVEST: 03-IC
Invest Capital
SCOPE:
Strategy Analysis, Risk Assessment, Order Management, Trade Execution, Front Office Position and P&L Reporting, FX Hedging, Funding and Collateral Management.
INVEST: 05-CNAV
Calculate Net Asset Value
SCOPE:
General Ledger Setup, Recording of Investment Activity, Security Master, Corporate Actions, Reconciliations, P&L Allocations, Review, Sign-off and NAV Reporting.
GOVERN: 07-GA
Govern Activities
SCOPE:
The reports, information flows and decisions taken by the Governance Team to ensure they retain ultimate responsibility for the activities of the Investment Fund.
REPORT: 09-FFS
File Financial Statements
SCOPE:
The process to draft interim and year end Financial Statements, satisfy audit requirements, publish and file Financial Statements with Statutory bodies.
REPORT: 11-FRR
File Regulatory Returns
SCOPE:
Identification of Regulatory Reporting Obligations, the production of reports and the filing of returns with Regulatory authorities in each jurisdiction.
INVEST: 02-RCI
Raise Capital from Investors
SCOPE:
Marketing and Distribution of the fund to target investors aligned with offering documents and regulation rules. The record keeping of investors contractual agreements.
INVEST: 04-SIA
Settle Investment Activity
SCOPE:
Trade settlement instructions – Listed, FX and Wires, Swaps, Futures and Options. Positions and balances trade / settlement date reporting and break resolution.
REPORT: 06-CIR
Comply with Investment Rules
SCOPE:
Setup and monitoring of compliance with Regulatory, Statutory and Contractual obligation. Includes Investment Restrictions monitoring by the Depositary / Trustee.
GOVERN: 08-MO
Manage Operations
SCOPE:
The Management processes that ensure effective oversight of the operations including processes that have been outsourced to service providers.
REPORT: 10-FTR
File Tax Returns
SCOPE:
The production of Fund and Investor Tax reports to comply with local requirements and filing returns with Tax authorities in each jurisdiction.
GOVERN: 12-CF
Close the Fund
SCOPE:
The liquidating of an Investment Fund to ensure equitable treatment of Investors and Creditors and the filing of all returns required to close a fund.
