Under AIFMD all managers within the UK & EU who are managing assets in excess of €500m (£430m), where the relevant funds are underleveraged and closed to redemptions for at least 5 years, need to appoint a Depositary. The role of the AIFMD depositary primarily covers three main areas:
- The custody of the investment portfolio
- The monitoring of cash transactions
- Ensuring compliance by the AIFM and the AIF with the Directive through regular and ongoing oversight.
Augentius is a highly specialised business which only services Real Assets – Private Equity, Real Estate and the like. Our knowledge and experience in the sector is second to none which is why we are perfectly placed to develop a truly specialised depositary service specifically for the Private Equity and Real Estate markets.
Our Private Equity and Real Estate Depositary Services
- Augentius Depositary Company Limited is a completely “stand-alone” company, segregated from Augentius’ fund administration business, with separate resources and staff
- We provide Depositary-only services and are happy to work with managers who carry out their administration in-house or with a third party administrator
- Our services interface with your existing banking arrangements and fund administrators. There is no need to change your valuable relationships
- Our staff are experts in what they do, have a deep knowledge of the Private Equity and Real Estate sectors and how managers work
- We recognise that every fund manager is different and works in their own way. We work in true partnership with our clients, adapting our working practices to “interface” with your operations to ensure efficiencies throughout
- A “Service Level Agreement” tailored to the specific needs of the fund will be put in place between the Depositary and the client and we monitor our performance against agreed KPI’s
- Charges will be determined on a client by client basis so that they can be specifically tailored to the work involved in each individual relationship.
To find out more about our specialised depositary services for the real estate and private equity sectors contact our team or follow the links below: