Services

Reliable. Pragmatic. Innovative.

No matter if you are a European manager needing to comply with the Directive, or a non-European manager seeking to market funds into Europe, we can provide you with economic and practical depositary services. Private Equity Depositaries will already be experienced with funds similar to your own. We are here to help.


  • The Depositary has a responsibility to maintain all of the cash transaction records of the fund. PED will view the fund’s bank accounts through its read only access and undertake bank reconciliations between the cash account records and the bank account transactions.

     

    Obtaining Cash Transaction Data

    Read only data is accessed from your current banking systems

     

    Cash Reconciliation

    Prepared in line with your existing cash reconciliation procedures

     

    Significant Movements

    Reconciled back to your fund’s operating model

     

    Exceptions and Anomalies

    Investigation and immediate follow up back to the client

     


  • The Depositary must independently verify that the assets of the fund are registered in the name of the fund. This process is straight forward and does not require contacting the manager.

     

    Verification of processes and procedures

    Automatic, discreet, independent and straightforward verification of assets are performed without having to contact managers or lawyers

     

    Maintenance of portfolio details

    Asset registration details are collated within a database containing automatic reconciliation feeds

     

    Ongoing checks and validation

    Continual confirmations sought to ensure assets remain registered in the name of the fund

     

    Securitised assets

    Held in segregated accounts with a global custodian and reconciled automatically back to the Depositary’s electronic asset register

     


  • The depositary has a responsibility to maintain an up-to-date record of these assets and of their notional amounts obligations are restricted to ownership verification and record keeping.

     

    Provision of safekeeping for non-financial assets

    Physically held and recorded by our safekeeping database

     

    Safekeeping Reconciliation

    Prepared in line with your existing safekeeping procedures

     

    Provision of safekeeping for financial assets

    Held within segregated client accounts with a recognised global custodian

     

    Custody Reconciliation

    Reconciliation and reporting of assets held with the global custodian

     


  • The Depositary has a responsibility to monitor and understand the documented procedures being applied to the operations of the fund. They ensure the Manager complies with the terms of the fund documentation and relevant legislation.

     

    Risk Analysis and Depositary Services Agreement

    Prepared on commencement of relationship to understand procedures being utilised

     

    Compliance with Fund Documentation and local legislation

    Evidencing the practical implementation of procedures

     

    Gap Analysis

    Assessing where there may be gaps in the fund’s operating model v the procedures required to execute the model

     

    Annual review

    A report looking at the implementation and application of your procedures, ensuring any gaps are resolved

     

Defining the depositary model

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