Depositary

The Alternative Investment Fund Managers Directive (“AIFMD”)

The AIFMD was implemented on 22 July 2013.  Under Article 21 (1) the Alternative Investment Fund Manager (“AIFM”) must ensure that a single depositary is appointed in relation to each AIF it manages. The directive outlines the types of institution eligible to become a depositary, the depositary functions, and tasks and responsibilities.

The Depositary

From July 2013 alternative investment funds captured under the AIFMD will be required to appoint a depositary separate from the fund manager. The depositary typically has 3 core functions for an AIF:

  • safeguarding the assets of the fund;
  • safeguarding and monitoring the cash of the fund; and
  • monitoring of the operational activities of the fund.

The Service

Gallium P E Depositary Limited is authorised to act as a Depositary to assist fund managers in meeting this new requirement. We offer a specialist depositary service providing a full range of functions for fund managers including:

  • cash account opening, monitoring and segregation;
  • arranging for the safeguarding of assets;
  • verification of ownership of existing assets and verifying proof of ownership;
  • cashflow monitoring;
  • maintenance of registers of assets;
  • operational oversight to ensure that transactions and valuations are in accordance with applicable laws and fund agreements;
  • monitoring conflicts of interest policies and procedures; and
  • monitoring the performance of the fund management team.

Next Step

If you are interested in the depositary service then please contact us admin@gallium.co.uk
to obtain further information and to arrange a meeting to discuss your requirements in more detail.

Gallium P E Depositary Limited is authorised to act as a Depositary