Independent Depositary Services
INDOS Financial provides independent depositary-lite services for EU and non-EU hedge fund managers of non-EU, offshore hedge funds. We are authorised as an Article 36 Custodian by the Financial Conduct Authority.
Our main AIFMD duties are to oversee:
- The valuation of the fund and its shares is carried out in accordance with its valuation policy, applicable laws and fund rules.
- Subscriptions and redemptions are carried out in accordance with applicable laws and fund rules.
- Transactions involving fund assets are settled within the usual time limits.
- The manager and fund both comply with applicable laws and regulations.
- The fund complies with investment restrictions and defined AIFMD leverage levels.
- Where required, cash flow monitoring and record keeping/ verification of ownership of other assets.
We specialise in depositary services for hedge funds. We have an experienced team, located in London and Ireland, with a deep background in hedge funds, fund administration, depositary and professional service businesses.
We are independent and a genuine alternative to other depositary businesses that generally only act, despite the potential conflicts of interest, where the fund administrator is an affiliate in their group. As a result, we perform genuine arms-length oversight. Our independent service fits well with the increasing industry on corporate governance and management of conflicts of interest.
We offer a flexible, proactive and transparent level of client service, through which we aim to add value and build a long term, successful client relationship.
We work with fund administrators and prime brokers to provide a joined-up service. Our services have minimal operational impact on managers.
Post AIFMD, managers are liable for valuation errors – our independent oversight over the valuation process helps managers mitigate this risk.
We leverage technology to deliver a first class, scalable and efficient service. We are committed to providing SOC1/ ISAE3402 assurance reporting to clients in due course.