global fund services - rbc cees
TRANSCRIPT
Who we areRBC Wealth Management’s Global
Fund Services team is a leading
provider of third party fund
administration, global custody
and custodian trustee services.
Our clients cover a wide variety
of investment strategies from
traditional long only to alternative
asset classes, including private
equity, venture capital, real estate
and funds of hedge funds.
Our range of fund services are
complemented by the enhanced
solutions that are available through
RBC’s global network, including
treasury, credit, banking, taxation,
wealth management, employee
benefit and capital market services.
Global reach and offshore excellenceOur portfolio of global clients
is serviced from our centres
of excellence in the Bahamas,
Barbados, the Cayman Islands,
Guernsey, Hong Kong and Jersey.
Benefits of our office locations
include geographical proximity to
some of the world’s largest financial
centres; a highly skilled workforce;
a solid regulatory framework; and
a proven history of servicing the
international funds market.
A leader with solid foundationsRBC Wealth Management is a
division of Canada’s largest bank,
Royal Bank of Canada (RBC).
Canada is consistently recognised
as a country with one of the world’s
safest banking systems, and RBC as
one of the world’s safest financial
institutions. Financially robust and
stable, RBC consistently maintains
a strong balance sheet and an
excellent credit rating.
Award winning serviceOur teams work closely with our
clients to provide a personal and
flexible service. Our clients range
from individuals, family offices and
Our extensive industry experience and leading edge technology enables us
to provide a full and tailored service. We focus on your objectives and work
with you to develop practical solutions, suitable for the most complex and
innovative structures - our emphasis on first class delivery sets us apart.
small boutique fund managers, to
some of the world’s largest financial
institutions. In recent times, RBC
Wealth Management has gained
a number of industry awards in
recognition of our dedicated,
specialist service offering.
Our servicesFund administration and custody
is the core of our business. We are
able to offer both select and end-
to-end services for all sizes of fund
structure.
We offer the following fund services:
- Fund administration;
- Global custody;
- Custodian trustee;
- Fiduciary services;
- Banking, credit and treasury
management including escrow
services.
Global Fund Services
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We stand out
Specialist services for a diverse client base
We work closely with our international client base to
provide personal and flexible solutions.
We are adept at dealing with all types of fund structures,
including limited partnerships, companies, cell
companies, unit trusts and umbrella funds.
Whatever your requirements, your RBC Wealth
Management relationship team can provide seamless
access to a complete range of services for your structure.
We are committed to ongoing investment into our
technology platform to ensure that we can support our
clients’ requirements both now and in the future.
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An outsourcing partner you can trust
A safe place for your assets Fund administration
Global custody
Outsourcing the administration of your fund to a
professional administrator is an ideal way both to
streamline your internal services, enabling you to
focus on maximising the fund assets, and to benefit
from specialist administrators and systems.
With RBC Wealth Management, you have direct access
to accounting and administration experience, systems
and procedures. Our services can be tailored to suit
your requirements and we structure our fees to ensure
that you only pay for the resources you require - a high
quality, cost effective alternative to in-house back office
operations.
We offer a comprehensive fund administration
service and we are well versed in the establishment
and administration of funds which are domiciled in
numerous jurisdictions.
RBC Wealth Management understands the importance
of mitigating risk, improving competitiveness and the
benefit gained from increased operational efficiencies.
With more than 30 years’ experience, we provide global
custody services to leading global fund sponsors and
investment managers and have been recognised as one
of the world’s leading offshore custodians. With us, you
have the peace of mind that your assets are safe and
secure.
Our global custody services are ideal for fund promoters
that are considering a start-up or exchange listing or
reviewing existing service providers; new businesses
that want to enjoy the efficiencies of using a single, full-
service offshore provider; and investment managers.
We offer a comprehensive fund administration service
covering a wide range of investment strategies, funds
structures and jurisdictions.
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How we can help - Client and investor relationship management;
- Ongoing data management, accounting and reporting;
- Fund valuations and Net Asset Value calculations;
- Director services;
- Corporate secretarial services;
- Regulatory compliance and anti-money laundering
services;
- Exchange listing support;
- Transaction processing;
- Banking services;
- Credit;
- Online services.
How we can help - Execution and fulfillment of trades in alternative
investments on behalf of investment managers,
on a non commission basis;
- Fully segregated private/institutional client capital
and income reporting and valuation (also available
for alternative investments);
- Prompt handling and collection of all trade settlement
and investment income to meet cash flow requirements;
- Provision of interest-bearing accounts and fixed term
deposits in any major currency;
- Contractual settlement date accounting to meet cash
management and foreign exchange needs;
- Accurate reports and valuations for client portfolios;
- Trade settlement in 80 of the world’s markets through
a single point of contact;
- In addition, we offer access to other services such as
forward foreign exchange, bridge financing and treasury
management;
- Processing an estimated 450 trades a month, our
proprietary hedge fund dealing system, UTMOST,
is capable of providing clients and fund promoters with
a full trade status report;
- Online services.
Integrity in everything we doCustodian trustee services
Fiduciary services
Our team understands the importance of protecting
the integrity of your investments. If you are a fund
promoter, you can benefit from a timely and tailored
oversight service based on industry-leading regulatory
models. Our team ensures compliance with fund
documentation, scheme particulars and the regulatory
requirements of various regulatory bodies.
We offer expertise in the operational requirements of
most types of collective investment scheme structures
(companies, limited partnerships and unit trusts),
both closed-ended and open-ended, as well as the
following types of investment vehicles:
- Traditional long only equities and bonds;
- Hedge funds;
- Fund of hedge funds;
- Property funds;
- Private equity and venture capital funds.
RBC Wealth Management has earned a reputation
as one of the world’s leading providers of trusts and
other estate planning solutions. We offer clients a
truly unique level of service, combining a tailored and
independent approach to trusteeship with the strength
and full service capability of one of the world’s finest
financial institutions.
We work with our clients to ensure fund assets
are kept securely and serviced properly, manage
schemes in accordance with local regulations and
protect investors’ interests. To this end, we operate
a standardised oversight approach, utilising ‘best of
breed’ regulatory models, on an ongoing basis.
We are also able to provide senior members of our
team to act as directors of funds (general partners and
companies) and special purpose vehicles.
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How we can help - Asset safeguarding;
- Representing and protecting the interests of the
investors;
- Creating and cancelling units or shares;
- Maintaining the register of investors;
- Ensuring fund management is in accordance with
relevant laws, regulations and the fund’s scheme
particulars;
- Provision of a detailed Compliance Monitoring Program
for all funds under our custody and administration;
- Comprehensive fiduciary oversight.
How we can help
Day to day fiduciary oversight:
- Reviewing trade suitability;
- Monitoring cancellation and/or creation letters and
associated flows of cash;
- Reconciling units and/or shares in issue each
dealing day;
- Reviewing valuations to ensure investment and
borrowing restrictions are not breached;
- Ensuring fund assets held in trust reconcile with the
fund manager’s valuation;
- Approving the fund’s fees, expenses and distributions
to shareholders (if applicable).
Periodic reviews and annual fiduciary oversight:
- Reviewing fund documentation during launch and
any revisions;
- Maintenance of ‘Breaches Registers’, including pricing
errors and any investment or other breaches;
- Annual review and sign-off on the report and accounts,
including reporting on the conduct of the fund manager;
- Implementation and monitoring of a Service Level
Agreement with the fund manager;
- Risk based review of the fund manager’s procedures
and calculation methodology;
- Review of the dealing and registration system, including
KYC and source of client monies;
- Liaison with regulators, promoters and other fund
service providers.
Specialist. Experienced. Professional.
Our peopleGlobal markets require global
understanding. We pride ourselves
on the calibre and technical
expertise of our people, and the
quality of service we deliver. Highly
skilled and motivated, with a wealth
of best practice knowledge, our
team includes highly experienced
specialist accountants, fiduciary
trust professionals, as well as direct
access to legal, chartered secretarial
and expertise from other disciplines.
Client firstFrom internal practices and
procedures to client service, our
first priority is to service our clients’
needs.
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Providing access to unrivalled expertise
Your relationship team will provide
a consistent, dedicated link to the
specialists both within our team and
elsewhere within the RBC global
network. Our solutions adapt and
develop as your objectives and
requirements evolve and we work
with you and your advisers to ensure
that relevant legislative, regulatory
and market practice considerations
are monitored and observed.
From start to finish, you and your
investors will receive a responsive
and proactive service. We recognise
that being commercial and flexible
is key to achieving the best possible
results. All this adds up to a special
client experience, underpinned by
the reassurance of an established,
reputable organisation.
A wealth of expertise
Your wealthRBC Wealth Management offers
clients an award winning range
of onshore and offshore wealth
management solutions, backed by
the strength and stability of RBC.
The RBC network provides a comprehensive range of wealth management, employee benefit and investment
banking services that can protect and add value to your client and fund portfolio and make your corporate
and fund assets work harder.
All RBC solutions are continually adapted to take account of economic and regulatory developments,
as well as individual requirements.
For more information, please visit www.rbcwealthmanagement.com.
Your employeesRBC Corporate Employee &
Executive Services (RBC cees)
is a leading provider of employee
benefit trustee and administration
services. We offer a personalised,
flexible service, working closely
with you to define your needs, and
adapting our processes wherever
possible to provide the best support
and solutions for your organisation
and employees.
Your businessRBC Capital Markets is a premier
investment bank that provides a
focused set of products and services
to corporations, institutional
investors, and governments
around the world. With over 6,500
professionals, we operate out of
70 offices in 15 countries and
deliver our products and services
through operations across North
America, the U.K. and Europe, and
Asia-Pacific.
However, clients should always remember that the value of investments may fall as well as rise.
You may not get back the full amount that you originally invested.
There is wealth in our approach
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How we can help - Banking;
- Credit;
- Carried interest structures;
- Retirement, trust and estate
planning;
- Investment advisory services;
- Structured solutions;
- Advisory/brokerage;
- Custody;
- Tax advice.
How we can help - Partnership incentive plans;
- Co-investment schemes;
- Carried interest planning;
- Bonus deferral plans;
- Share plans;
- Executive pension plans;
- Savings plans;
- Personal pension and savings
plans.
How we can help - M&A, sales, privatisations,
capital reorganisations and
restructuring;
- Corporate dealing;
- Private placements of equity
capital;
- Direct investment
opportunities;
- Acquisition finance and
leveraged buy-outs.
RBC has long believed in
the importance of corporate
responsibility.
Our first formal employee Code
of Conduct, developed in 1980 to
embed our approach throughout
RBC, read: ‘It is our duty as a
corporate citizen to add value to
society while earning a profit for our
shareholders. RBC companies take
responsibility for the effects of their
actions, both social and economic.’
Today, this remains one of our
Code’s eight ‘guiding principles’, and
we have continued to evolve our
approach over the years.
In 2007, we developed the RBC
Blueprint for Doing Better™, a
strategy and framework that covers
two particular areas of focus –
diversity and environment – as well
as a set of priorities that address
the increasing expectations of
our various stakeholders. These
priorities are:
Economic impact- Provide strong returns to
shareholders;
- Pay fair share of taxes.
- Create employment;
- Support small business
and community economic
development;
- Foster innovation and
entrepreneurship;
- Purchase goods and services
responsibly.
Marketplace- Develop and provide products
responsibly;
- Provide access to basic banking
services;
- Protect and educate consumers.
Environment- Reduce intensity of operational
footprint;
- Promote environmentally
responsible business activities;
- Offer environmental products
and services.
Community- Provide donations with a lasting
social impact;
- Sponsor key community
initiatives;
- Encourage employees to
contribute.
Workplace- Respect diversity;
- Foster a culture of employee
engagement;
- Provide competitive
compensation and total rewards;
- Provide opportunities for training
and development.
Visit www.rbc.com/responsibility
for more information on specific
projects and policies.
Responsible. Ethical. Green.
The RBC New Wild GardenDr Nigel Dunnett for the RBC Blue Water Project
We would be delighted to talk to you in detail about how we could help to meet your specific needs.
To find out more about our global fund services, or any other information not listed in this brochure, please feel free to contact us at any time:
Call +44 (0) 8000 566 550
Email [email protected]
Or visit www.rbcwealthmanagement.com/funds
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