What is it?
This is an application supporting the activities of a collective investment fund and insurance fund depository. The depository inspects the management of funds, mainly checking on compliance with the operating rules of the fund and monitoring the actual assets. In order for the depository to carry out punctual inspections it needs the following:
- records of all the fund’s assets, including any changes in time thereto (transactions)
- a market valuation of fund’s assets in order to assess whether this reflects fair value
- calculation and verification of fees collected and net asset value (NAV) of one share issued
- monitoring of the limits and structure of fund’s assets in accordance with the law and the fund statute
The application is suitable for banks which act as an asset management company’s depository.