Offshore Feeder Fund of a US Managed Futures Fund
This is the service scope that GLFS provides to an Offshore Feeder Fund of a U.S. Managed Futures Fund:
Investor Services
- Processing subscriptions and redemptions
- Entering investor information into databases accessible to the fund sponsor through secure, customized, hosted Website
- Calculating and processing redemptions
- Mailing acknowledgement of investment, redemption and change in account information to investor and custodian
- Storing document images pertaining to each investor on secure Website (e.g. monthly financial statements, 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
- Screen 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 custodians and the fund sponsor
- E-mailing monthly financial statements, annual privacy statements, and audited annual financial statements
- Maintaining custodian contact information
- Maintaining custodian Websites
Financial Services
- Maintaining fund history database
- Month-end processing (posting redemptions, transfers, and new sales, creating monthly financial statements with fund PNL and shareholder detail)
- Calculating share class distribution from aggregate fund
- Creating consolidated monthly financial statements for each share class
- Completing the monthly close and creating the Books of Original Entry
- Coordinating audit with outside auditing firm
- Filing quarterly and annual compliance information with fund’s country of origin
- Maintaining fund bank accounts
- Creating and authorizing wire payments
