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Depositary Services

Sometimes a new regulation or a new service crops up, that can distract already time-poor AIFMs from their core focus and activities.

AIFMD Depositaries

The Alternative Investment Fund Managers Directive (AIFMD) has guided the work of Alternative Investment fund managers (AIFMs) in the European Union since 2013. It governs the regulations for the authorisation, ongoing operation, transparency and reporting of EU and non-EU AIFMs that manage or market Alternative Investment Funds (AIFs) into the EU.

But AIFMs are busy people and sometimes they need a little help. This is where depositary services and AIFMD depositaries can assist.

An independent third party that is responsible for the oversight of the activity of each AIF, depositary services can include cash flow monitoring, keeping assets safe, and having responsibility for ultimate oversight of the AIF.

You’ll need depositary services in the following situations:

  MARKETING STRATEGY AIF: EU AIF: NON-EU
AIFM: EU Marketing through private placement N/A Depositary-lite requirements
AIFM: EU Marketing passport Full depositary requirements Full depositary requirements
AIFM: NON-EU Marketing through private placement Non, but depositary-lite services may be imposed by some member states None, but depositary-lite services may be imposed by some member states
AIFM: NON-EU Marketing passport Full depositary requirements Full depositary requirements

 

There are also regulations governing where your depositary should be located:

  AIF: EU AIF: NON-EU
AIFM: EU Home member state of the AIF

Third country where the AIF is established

Home member state of the AIFM

Member state of reference of the AIFM

AIFM: NON-EU No requirements for a depositary unless member states impose their own requirements
 
No requirements for a depositary unless member states impose their own requirements

Why Ocorian?

With a thorough understanding of the needs of AIFMs, we provide an unobtrusive, seamless service in order to minimise the day-to-day impact on your operations.

Ocorian can offer a stand-alone depositary service or add it onto your existing corporate and fund administration needs.

We also offer depositary-lite services for funds that want to market under certain national private placement regimes in accordance with article 36 and 42 of the AIFMD.



Seamless communication

We work with the latest technology to monitor all cash flows and cash positions of the AIF, giving you access to your information through a dedicated client portal while helping us to deliver depositary services in an efficient and cost-effective manner.

The portal enables both parties to securely share information, helping to ensure complete transparency of everyone’s tasks and responsibilities. It gives ongoing direct access to key information and documents through an online document library and is easily searchable. Parties can talk to each other using the portal, which also has an online calendar, intuitive quick links for easy navigation, and is accessible 24/7 from anywhere in the world.

We’re licensed to provide AIFMD depositary services in London (UK) and Jersey (Channel Islands), with our Luxembourg license pending.

 

Awards received:

  • Best Fund Services Provider - Investment Week Fund Services Awards 2018
  • Best Specialist Fund Service Solution - Investment Week Fund Services Awards 2017
  • Best Local Fund Administrator - Private Equity Africa Annual GP and Advisor Awards 2017
  • Risk and Compliance Award - ICSA Jersey 2017
  • International Fund Services of the Year - Channel Islands Global Fund Awards 2015

"Buckthorn has been continually impressed by Ocorian’s responsiveness, professionalism, flexibility and ability to find sensible solutions to issues that have arisen during the time we have been working with them. 

"The Ocorian team has an excellent mix of experienced professionals, who are always available with more complex fund matters, and intelligent and efficient administrators that are diligent and thorough in carrying out the more routine elements of fund management. I could not recommend them highly enough."

Joe Connolly, Partner - Buckthorn

Connect with us

Philip Bolton

Managing Director - Alternative Investments

Channel Islands

See bio
Graham Dew

Executive Director - Head of Depository Services

Luxembourg

See bio