Set-Up/ Transition Services
Introduction to service providers needed for fund setup or liaison with existing providers
Review of offering memorandum and statutory documents
Set up of bank accounts for funds
Registered Office, Secretarial, and Corporate Services (for Cayman Funds)
Provision of principal and registered office
Maintenance of statutory records such as the minutes book
Filing of Annual Return with Registrar of Companies and annual CIMA fees
Voluntary liquidations of Cayman Funds
Registrar and Transfer Agency
Maintenance and updating of investor register details
Tracking Call and Distribution Notices
Collection and warehousing of subscription and redemption documentation
Investor communication regarding subscriptions, redemptions, calls and distributions
Transfer of investments
Cash Management
Transfer of cash to screened parties via electronic token and set up and release functions
Strong control environment of TFA: always two representatives involved in setup of cash outflow
Regular reconciliation of cash
Maintenance of bank account information for the manager – bank statement analysis
Multiple work relationships with major banks in the US and abroad
Compliance Services
FATCA Compliance
RIA Compliance
AML & KYC Compliance
Investor Subscription and Redemption
Compliance according to Fund Documentation and jurisdiction
Drafting of Special Situation Communication to regulators and investors
Completion of subscriptions for investments in Fund of Hedge Funds
Compliance for IRA investors
ERISA Compliance
Middle and Back Office Support
Retrieval of data from brokers and custodians by means of electronic access
Retrieval of data from manager’s systems for reconciliation purposes
Pricing reconciliation from third party sources like Bloomberg (“portfolio accounting”)
Valuation according to agreed upon methods with fund manager for PE and RE Funds
NAV Calculation, Accounting for Financial Statements and Statistics/Risk
Categorization of Assets into Level 1-3 (US GAAP)
Preparation of illiquid asset commentary for auditor
Preparation of General Ledger, Profit and Loss Statement and Balance Sheet
Calculation of investor allocations from profit and losses
Calculation of management and performance fees, hurdle rates and fee arrangements per investor
Calculation of capital call and distribution allocations
Calculation of interest due for multiple calls and back payments
Waterfall calculations
Accrual of expenses and provisions for budgeting of Fund liquidity needs
Tracking of assets in view of tax preparation
Preparation of various statistics reports
Risk Report
Audit and Tax support
Multiple work relationships with auditors, including the big four
Facilitation of entire audit and tax process – hand in hand work with client
Handling of all operations related questionnaires
Posting of all required information to server based safe environment
Coordination of work steps with auditor
Provision of support for auditor’s testing of portfolio
Preparation of Schedule of Purchases/Sales, Realized and Unrealized Gains and Losses
Preparation of Portfolio Investment Roll
Preparation of Footnotes to Financial Statements
Monthly reconciliation of unsettled trades for random testing by auditor
Distribution of K1s or PFIC Statements to investors
Investor and Manager Reporting
Posting of investor reports to proprietary web based reporting portal (“portal”)
Posting of manager reports to portal for regular review processes
Posting of all call and distribution notices to portal
Posting of fund documentation and subscription documentation for authorized user view
Posting of manager communication to investors
Posting of marketing and statistics info of fund for authorized viewers
Transparency option: posting of portfolio details