fund solutions fund solutions … · amstelplein 1 1096 ha amsterdam fund solutions october 2020...

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Fund Solutions October 2020

+31 (0) 20 2477 277contact@fundshare.nl

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Who are we?

+31 (0) 20 2477 277contact@fundshare.nl

CEO: Adam Rose (2017)• CV: Goldman Sachs, Blue Sky Group, ABN Amro and

Euronext

CFO: Melvin Huisman RA RV (2010)• CV: PwC, FundShare Administrator, DAF Depositary

and DeGiro

CIO: Jan-Jaap Surie (2013)• CV: AOT/Binck and Market Wizards

FFM (October 2020): o 32 Sub-Funds in 3 Umbrella’s

▪ 7 QMMF Cash Fundso ~400 mln EUR AUM o ~2000 participants o 6 external portfolio Managers

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

History FFM

+31 (0) 20 2477 277contact@fundshare.nl

• FundShare Fund Management B.V. (FFM) is founded in 2006;

• Founders are 5 former Binck / AOT employees (IT/Quant/Trader);

• 2007 Launch of Fundamental Value Fund;• Infrastructure completely in-house developed;• Spin-offs: FundShare Administrator and DeGiro;• 2012: Launch AIF Umbrella / OpCo funds; and• 2014: Launch UCITS Umbrella / Cash Funds.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Sector developments

+31 (0) 20 2477 277contact@fundshare.nl

• Complex laws and regulations (risk, compliance, AML and KYC);

• Service ‘smaller’ clients;• Efficient portfolio management;• Focus on costs / management fee; and• Core activity asset management and execution of

investment vision.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Solution

+31 (0) 20 2477 277contact@fundshare.nl

Sub-Fund in the FundShare Umbrella• UCITS or AIFMD regulation;• ‘Closed fund for joint account’(FGR) with a UCITS-

passport for 17 countries in Europe;• Free access via DeGiro;• Via Fundsettle external access; and• Delegation of Portfolio Management (execution

investment policy) to asset managers.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Type of Fund

+31 (0) 20 2477 277contact@fundshare.nl

• Investment Fundso Stockso Bondso Mixo Fund of Funds

• Feeder Fundso Hedge Fundso Private Equityo Pension Fundso AIF/UCITS Investment Funds

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

For who?

+31 (0) 20 2477 277contact@fundshare.nl

• Asset Managers• Investment Funds• Hedge Funds• Private Equity• Pension Funds

Requirement: Asset Manager License (Wft2:96)

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Portfolio Management

+31 (0) 20 2477 277contact@fundshare.nl

• Via online environment DeGiro;• Access to many instruments at exchanges

around the world;• Access to DeGiro Prof Desk for OTC trading;• Very low transaction costs; and• No risk, compliance, AML and KYC. Full

attention for 1 or more Fund Portfolios.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Structure (1)

+31 (0) 20 2477 277contact@fundshare.nl

AIF/UCITSUmbrella

DeGiro

OpCo

FFM

FundsettleExternal

bank/broker

Stichtinglegal owner

FSAA

Mazars

KAS Bank

Participant(choice)

Sub-FundSub-Fund

Sub-Fund

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Structure (2)

+31 (0) 20 2477 277contact@fundshare.nl

• FFM is the fund manager (determining investment policy, risk and compliance) of the umbrella;

• FFM is the director of the ‘Stichting Legal Owner FundShareumbrella’;

• Mazars is the accountant of FFM and the umbrellas;• FFM delegates Portfolio Management (execution investment

policy) (PM) to an OpCo (Operating Company / Asset Manager);

• FSAA (FundShare Administration Activities): (daily) NAV, subscriptions and redemptions and participant administration;

• KAS Bank is the depositary of the funds;• DeGiro: broker (incl. risk), custodian and distribution; and• DeGiro: transfer agent and onboarding clients (AML/KYC).

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Safety

+31 (0) 20 2477 277contact@fundshare.nl

• FFM is monitored by AFM and DNB;• Umbrella UCITS or AIFMD regulated;• Risk control and assurance on 7 levels: PM (OpCo),

FFM, DeGiro, KAS Bank, Mazars, Audit and AFM;• No leverage ;• Only exchange listed products;• Only covered derivatives;• Securities lending with at least 104% collateral;• Minimum diversification restrictions;• Low turnover per Sub-Fund; and• Annual delegation due diligences and reviews.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Costs/Revenues

+31 (0) 20 2477 277contact@fundshare.nl

Costs on a yearly basis. Monthly charged:• DeGiro: 5 bps minimum transaction fees. +

transaction fees above 5 bps;• FSAA: 7,5 bps with <25 mln AUM. Above 1 bps;• FSAA: min 2.500 EUR, max 22.500 EUR. Depends

on complexity portfolio;• KAS Bank: 1bps + 2.250 EUR fixed+ VAT;• Audit: 3bps with < 25mln AUM. Above 1 bps. +

2.500 EUR fixed+ VAT;• FFM: 15% of management fee (min 15k EUR);• OpCo: max 85% van management fee;• Startup costs: around 10k over 5 years;• No entry and exit fees; and• No minimal order value.

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Cost Example (1)

+31 (0) 20 2477 277contact@fundshare.nl

10k startup costs, 0.6% mgmt fee, Bonds EU + US

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Cost Example (2)

+31 (0) 20 2477 277contact@fundshare.nl

10k startup costs, 1% mgmt fee, stock Europe

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Cost Example (3)

+31 (0) 20 2477 277contact@fundshare.nl

10k startup costs, 1.5% mgmt fee, mix world

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Start a Sub-Fund

+31 (0) 20 2477 277contact@fundshare.nl

Start a new Sub-Fund

• Discuss type of Sub-Fund;• Due diligence;• Delegation contract;• Proposal objective and technique OpCo;• Translation to prospectus supplement by FFM;• FFM: setup Fund account DeGiro and FSAA; and• Prospectus change to AFM.

The total time of this process is ~ 3 months

FundShare Fund Management B.V.Rembrandt Tower 9th

Amstelplein 11096 HA Amsterdam

Questions?

+31 (0) 20 2477 277contact@fundshare.nl

+31 (0) 20 2477 277contact@fundshare.nl