Fund Services offers flexible and multinational functionality for Fund Administration on a fund/fund class level. Fund Services offers a standardized order process flow with optional settings for business rules on fund level. Business rules can be set for both ordinary investment funds and alternative investment funds.
Parameters for business rules includes functionality such as:
- NAV frequency
- NAV calenders
- Trade currencies
- Settlement cycle
- Cash settlement
- Payment channels
- Settlement interest
- cutoff times
Fund Services shareholder register includes functionality necessary to administer and maintain all information regarding share owners and their holdings. The register contains full historical information of clients and may be used for reporting, investor relations, analyses as well as keeping records of ownership.
Holdings are maintained at account level, giving the opportunity to register client holdings with separate purposes on separate accounts, as well as a total holding for each shareholder. Trading orders are processed and accounts and holdings are updated in real time. In Fund Administration the total number of fund units issued to all shareholders are continuously updated and available online.
The shareholder register and report functionality is available online, fully updated, at all times.
Order and settlement
Fund Services is a real time and multi-currency order and settlement solution which will help fund managers achieve high level of investor service, as well as maintaining a high level of operational quality and control.
Fund Services includes an automated order process, with an intuitive and user-friendly solution for monitoring orders.
Fund Services offers flexible and efficient modules for payment transfers integrated with the order process. The system covers subscription, redemptions and agreements towards payment infrastructure in the Nordic region.
Fund Services includes a set of standard reports for fund managers as well as easy access to functionality for online search and reporting.
Through Fund Services Fund managers and Distributors can set up their own reports and establish their own schedule for report processing. All Fund Service reports are available on screen.
On behalf of fund managers VPS distributes contract notes to the investors. The contract notes and investor information are available through our online solution.
Charges and Commissions
VPS offers within Fund Services a separate functionality for setting up charge or commission structures (front end load) for calculation on order level. The structures may be fixed charges or percentage of order value, with or without steps, fixed level or within a range, and connected to one or more order types. Different structures for charges and commissions can be connected to different funds / groups of funds and different Distributors, according to local agreements.
Sales offices and Distributors may define their own sales hierarchies, connecting branches and sales people in the right structure. Each office or salesman will be identified by an ID which later can be connected to orders or clients for statistical or commission reporting purposes.
Fund Services has separate functionality giving Fund Managers the ability to authorize Distributors to place orders in their Order book. Authorization rules are set up with specific parameters regarding funds, order types and distribution channels, in defined distribution groups. Authorized Distributors are connected to the appropriate distribution group, thus making setup of new Distributors and change of parameters as efficient as possible.
Fund Services comes with tools for setup and processing of Corporate Actions such as Dividend / Interest distribution and Fund Mergers.
Distribution of Dividends / Interests may be done as cash payments or automatic reinvestments. The service also includes functionality for withholding tax, and tax reporting.
Fund Mergers are based on holdings in the shareholder register on the selected record date, and are processed over night at the ordered date.