AIFMD (UCITS V) Depositary Bank Cash Toolkit

The Alternative Investment Fund Managers Directive (AIFMD) imposes strict regulatory duties on a depositary bank in respect of the monitoring of all cash accounts and all inflows and outflows of monies through bank accounts of AIFs and AIF managers acting on behalf of AIFs.

Once appointed by an AIF or its manager, a depositary bank is required to be aware of all bank accounts that are open in the name of an AIF or the AIFM acting on a fund’s behalf. The AIF or AIFM has an obligation to make the depositary bank aware of every bank account opened by an AIF.

Thomas Murray Data Services has developed a bank account management toolkit designed to support depositary banks collect data on all bank accounts held for AIF clients. The cash toolkit can assist the control of risks and reduce operational costs associated with managing these bank accounts. It provides a fully customisable application allowing the depositary bank to capture all of the bank account data held by its AIFs. Account information within the funds and across banks, sub-custodian relationships, regions, business or product lines and other customisable filters can be used. The cash toolkit, being internet based, gives depositary banks an application that can be opened to AIFs or their Managers so details of all bank accounts can be input and maintained centrally.

Benefits

  • Efficiency - increased efficiency as AIFMD cash account data, even with third party banks, can be collected then centrally managed
  • Data quality improvement - standard and consistent data
  • Operational risk - less administrative tasks, reduction in duplication of operational activities in segregating AIFMD cash accounts by having all cash accounts under central management control
  • Control & monitoring - central registration of all AIFMD bank accounts and supporting documents
  • Controlled access - (at any level) both internally and externally to banking clients direct via the Depositary bank’s own portal.

Key Advantages

Independent Control & Verification

The toolkit provides depositary banks with the ability to comprehensively manage, segregate and record all of the cash accounts that are held for an AIF or the AIFM to keep the fund’s appointed depositary bank informed.

Cost Justified

The toolkit provides depositary banks with a cost effective tool that can be opened to an AIF or its manager to keep the fund’s appointed depositary bank informed of its cash accounts worldwide, providing increased operational efficiency at the depositary.

Download the AIFMD and UCITS V brochure.


If you would like to purchase this service, or find out more about it, please contact Derek Duggan at dduggan@ds.thomasmurray.com or telephone him on +44 (0) 20 8600 2300.

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