Nationally Distributed Managed Futures Fund
This is the service scope that GLFS provides to a Regionally-Distributed Managed Futures Fund:
Investor Services
- Processing subscriptions and redemptions
- Entering investor and financial advisor information into databases accessible to the fund operator through secure, customized fund administration Website
- Calculating and processing redemptions and any penalties
- Mailing acknowledgement of investment, redemption, and change in account information to investor, financial advisor and custodian
- Generating Blue Sky Reports: Sending out daily system-generated reports to fund operator for early notification when state limits are nearing 100% so they may file for new limits
- Storing document images pertaining to each investor on secure Website (e.g. monthly financial statements, K-1s, e-mails, acknowledgement letters, requests, supplements and subscription agreements)
- Performing anti-money laundering (AML) screening and reporting
- Using the latest Specially Designated Nationals (SDN) lists provided by the Office of Foreign Assets Control (OFAC) to screen the investor records daily
- Screening all investor records for matches to any newly circulated SDN list sent by OFAC
- Reporting found matches to the fund operator immediately
- Reporting the scan results monthly in a letter to the fund operator
- Reconciling monthly investor activity with broker dealers and the fund operator
- Mailing monthly financial statements, annual privacy statements and audited annual financial statements
- Maintaining financial advisor contact information
- Notifying financial advisor of monthly activity through proprietary Client Status Report
- Maintaining selling agent data and customized Websites
- Maintaining custodian data and customized Websites
- Maintaining Website for financial advisors with specific fund information
Financial Services
- Calculating and publishing the daily estimated Net Asset Value (NAV)
- Maintaining fund history database
- Calculating and creating commission reports
- Month-end processing (posting redemptions, transfers, and new sales, creating monthly financial statements with fund PNL and investor investment detail)
- Completing the monthly close and creating the Books of Original Entry
- Coordinating the quarterly and annual reviews with outside auditors
- Coordinating the quarterly NFA filing with the fund sponsor’s attorney
- Reporting changes in Net Asset Values
- Reporting fund total assets composition
- Reporting analysis of Open Trade Contracts
- Creating 10Q and 10K reports
