An investment fund custodian generally refers to a deposit bank or trust company (a particular type of regulated financial institution such as a « bank ») or a similar financial institution responsible for the participation and protection of the securities of an investment fund. The custodian of an investment fund may also play the role of one or more service providers for the FP, such as. B, accountant, manager and/or transfer agent, which maintains shareholder records and distributes, if applicable, periodic dividends or capital gains distributed by the Fund. The vast majority of funds use a third-party custodian in accordance with SEC regulations to avoid complex rules and self-preservation requirements. The sub-custodian is the third party responsible for the preservation of certain securities generally abroad. For his accounting, he usually uses omnibus accounts. Bus and coach accounts are generally segregated accounts that do not break down the units of the various unitholders. These accounts will therefore be in the name of the CIS. The identity of investors is only communicated to the Spanish regulatory authority (CNMV) if there are large stakes of more than 10%. Our Sub-Custody offer offers only one point of access to 7 markets and we are responsible for the retention of your securities portfolios. Our clients can simplify and streamline the processes behind holding all kinds of securities.
And when the titles change ownership, we offer matching, clearing and settlement as well as delivery of securities for payment. We support this with Demintom on critical information that will allow you and your customers to make timely investment decisions and react quickly. Conservatory custody is an agreement in which you hold a property or property in the name of the actual owner (effective beneficiary). These agreements are usually concluded by public bodies or companies to manage different benefit programs. the custodian or custodian of a collective investment may delegate his duties to a sub-custodian. This generally applies to the retention of international securities. However, the custodian retains the primary responsibility. Sub-depositors are also used to protect the assets of their custodians in the event of insolvency. There are also minimum requirements for the selection of this sub-depository.
The custodian must assess the national risk, the conservation, the separation of assets and even the applicability of the contracts he signs with them.