Services | Drake-advisors

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

Fund Set-Up

Drake will assist in the decision making process with regards a suitable jurisdiction and structure. We truly are a full fund solution and will use our extensive experience to assist in structuring.

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. Our dedicated back office will ensure that relationships are put in place efficiently and in a timely manner. 

Drake usually oversees, with customer input;

  • Registration of structure;
  • Drafting of prospectus / offering memorandum / memorandum and articles of association;
  •  Full Secretarial function, including providing directors and active management if required;
  • Appointment of Role Players / Service Providers including bankers, legal advisors, auditors, custodians, brokers and managers (Drafting of all necessary interparty agreements and due diligence);
  • Overseeing the Financial Services Approval Process;
  • Obtaining Listing Approval (as needed);

Fund Accounting

  • Reconcile cash, trade positions, and total equity to prime broker statements (where traditional prime brokers or custodians are utilised);
  • Provide monthly final RORs/NAVs reporting and P&L;
  • Calculate management fees and incentive allocations;
  • Price portfolio in accordance with the Fund’s offering memorandum;
  • Review and disburse distributions and expenditures for legal fees, accounting fees and any other third party fees;
  • Prepare investor statement;
  • Prepare monthly economic distributions, by investor;
  • Maintain accounting books and records;
  • Assist auditors with annual audit;
  • Ensure adherence to accounting policies and procedures;

Fund Administration

  • Maintain investor register;
  • Communicate with investors, as directed;
  • Publish and/or furnish RORs/NAVs, as directed;
  • Accept new subscriptions;
  • Process redemptions;
  • Take any other reasonable actions necessary for the administration;
  • Attend to all statutory filings and disburse payments in connection with Regulatory adherence;
  • Maintain minute books and other statutory registers;
  • Maintain principal corporate records;

Fund Compliance

All compliance in line with Drake’s compliance manual overseen by our compliance officer. All anti-money laundering, know your client and similar work will be detailed upon request only;

Keywords: Accounting, financial services, investor, service providers

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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.