Bewaarder Services

By: Custom House Group  05/12/2011

Custom House Fund Services (Netherlands) provides Depository services (also referred to as custodian or trustee services) under Dutch laws to hedge and long only funds as well as to private equity and real estate funds. The Depository (in Dutch: Bewaarder) is appointed basically to segregate the legal ownership of the Fund’s assets from the Manager in the interest of the unit-holders. The appointment of a Depository is mandatory under the Dutch Financial Markets Supervision Act (in Dutch: Wet op Financieel Toezicht) in the case that the Fund is not a legal person (e.g. a fund for joint account or limited partnership) and optional in all other cases.

The Depository itself:

  • is a legal person entrusted with the safekeeping of the Fund’s assets
  • should be separate from the Manager
  • should only act in the interest of the unit holders of the Fund
  • Depository and Manager may only dispose of or acquire jointly the Fund’s assets
  • Financial Markets Authority does not supervise the Depository directly but through the Manager
  • Regulatory required capital base: EUR 112,500*

Whereas the Management Company (the “Manager”):

  • Is a legal person entrusted with the management of one or more Fund(s)
  • Financial Markets Authority grants the license and supervises the Manager*
  • Regulatory required capital base: EUR 250,000*

* The Exemption Rule Dutch Financial Markets Supervision Act provides in exemptions for this capital requirement. 

Custom House provides depository services through ‘Administratiekantoor van De Twentsche Trust Maatschappij BV’ (“ATTM”). ATTM is a privately owned company with limited liability that is a fully owned subsidiary of Custom House and a member of the Equity Trust Group of companies. Its statutory objects are limited to those of a Depository.

The Depository (“Bewaarder”) services of Custom House Fund Services (Netherlands) are SAS 70 – II certified.

For further information please contact:

Custom House Fund Services (Netherlands) BV

Mr. Robert Vennegoor, Managing Director

Tel. +31 20 406 4476

Other products and services from Custom House Group


Cash Management Programme

When establishing an offshore fund it is important to clearly demonstrate to potential investors that the fund has been organised so that the custodial arrangements ensure that the assets are as secure as possible and protected from any third party risk, except, of course, the inherent market risk.


Managed accounts and many other services

Once the fund has been established, Custom House will act as administrator to the fund, overseeing the day to day operations and liaising between the Investment Manager and/or Investment Advisor, Broker, Custodian and Payment Bank, Auditor, Regulatory Authorities and, if listed, the relevant Stock Exchange authorities.


Administration Fees and Annual Operating Costs

The highest single overhead for most funds is the cost of investment management, particularly if the fund is profitable and the investment manager is paid an incentive, or profit participation fee, although, of course, from the investor's point of view, the bigger the actual incentive fee, the better.


Fund Set-Up | Setup of Fund

Assist in the preparation and execution of the Management, Investment Advisory, Custodial, Administration, Registrar & Transfer Agency, Placing Agency, Broker or Bank, and any other relevant service provider agreements or account opening documents as may be required.


Hedge Fund Administration companies | Fund Administration Service

Custom House aims to establish a personal relationship with its client funds and particularly the investment manager and brokers, by appointing one of Custom House's administration officers as the permanent "Account Manager", who will be responsible for liaising with the investment manager's and broker's back offices.