Depositary Services
Waystone provides independent depositary services for managers of non-EU domiciled alternative investment funds. Our experts assist clients with the AIFMD regime and work to ensure they meet their depositary requirements in a timely and efficient manner.
Cash flow monitoring (Article 21.7 of AIFMD)
Waystone’s depositary services involve comprehensive cash flow monitoring for AIFs, ensuring that all cash movements are properly accounted for. This includes:
- Monitoring of cash flows to detect unusual transactions.
- Reconciling cash flow movements against AIF records.
- Reviewing and maintaining all cash accounts to comply with regulatory standards, as stipulated by the AIFMD.
Ownership verification of non-custody assets (Article 21.8(b))
Waystone verifies the ownership of non-custody assets held by the AIF, ensuring that all records and legal ownerships are accurately maintained. Our services include:
- Accessing relevant asset information to perform accurate ownership verification.
- Maintaining a detailed record of all non-custody assets.
- Verifying asset ownership through independent sources at valuation points.
Oversight function (Article 21.9)
Waystone’s depositary team performs oversight functions to ensure that the AIF operates within its legal and regulatory frameworks. These services include:
- Monitoring compliance with investment restrictions and leverage limits.
- Ensuring that investor transactions are correctly processed.
- Verifying that trades are settled promptly and that the AIF’s income is applied correctly in line with its rules and constitutional documents.
- Establishing robust escalation procedures for reporting irregularities.
Benefits
By partnering with Waystone, AIF managers can focus on growing their portfolios while relying on a strong framework for depositary oversight and regulatory compliance.
- Minimum disruption:
Waystone’s depositary services are designed to integrate seamlessly with your operations, ensuring minimum disruption to your business. Our solutions are recognised as the most effective in the market, providing streamlined processes that reduce complexity for clients, allowing them to focus on core investment activities. - Expertise:
Our team of industry professionals brings deep expertise to depositary services, delivering high-quality support to AIFMs and Boards of Directors. With decades of experience in regulatory compliance and fund oversight, we ensure that clients receive precise, informed advice that enhances operational efficiency and governance. - Outstanding client service:
At Waystone, we pride ourselves on offering outstanding client service, underpinned by a deep understanding of stakeholder needs. We collaborate closely with our clients to tailor depositary solutions that meet their specific requirements, ensuring responsive, high-touch support throughout our engagements.