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By: Drake-advisors  05/12/2011
Keywords: financial services, service providers

Terminology varies considerably between jurisdictions. Generally, “Funds” is the term used commonly.

A Fund is a way of investing with others to participate in a wide range of investment opportunities which would not be feasible for the investor independently. Usually, economies of scale are obtained with the “grouping” of investor capital.

Funds are generally structured as;

  • Limited Companies;
  • Limited Partnerships;
  • Unit Trusts.

Funds can be Open-Ended or Closed – Ended. Open Ended Funds issue new units at prevailing Net Asset Value per unit, each time an investment is placed into the fund. Similarly, when an investor redeems from the fund, it will withdraw the units.

Closed-Ended Funds issue a limited number of units at an initial offering, and these units remain outstanding without any being added or withdrawn.

Funds are well regulated by Financial Services Commissions / Regulators / Central Banks per the relevant jurisdiction of licensing. As such, a number of service providers are appointed in line with the requirements of its activities, but also as instructed by its Regulator. Service Providers usually are;

  • Administrator;
  • Investment Manager;
  • Custodian;
  • Legal Advisor;
  • Registered Agent;
  • Banker;
  • Broker;
  • Auditor;
  • Transfer Agent;

Drake is a licensed fund administrator in a number of jurisdictions, allowing us to structure and service where our client base wish to set up. Experience taught us that certain jurisdictions are more suitable to others for certain activities, and as such, we will always thoroughly discuss with and offer our experience to proposing clients, ensuring that structuring and setting up happens accurately, efficiently and without delay.

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Keywords: financial services, service providers

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We have an existing list of functionaries and preferred suppliers, but this does in no way mean that we are unable to embrace new relationships with client specified suppliers and functionaries. Review and disburse distributions and expenditures for legal fees, accounting fees and any other third party fees. We truly are a full fund solution and will use our extensive experience to assist in structuring.