Investment Fund Administration, Operations & Custody

14Sep2021
23Sep2021

From 5:00 pm until 8:45 pm

At Live Online

€530.00 (subject to 19% VAT)



Course Overview

In the last few years, Cyprus has grown to be one of the fastest emerging fund markets in Europe.

The passing of the Alternative Investment Fund Law of 2014 and the transposition of the UCITS IV Directive into domestic Law in 2012 have harmonized the local regulatory framework in line with the EU fund regulations, increasing the country’s competitive position and opening the market for the set-up of Cyprus funds which can be marketed domestically and in the EU.

With a market now built on strong legal foundations, the business environment has been created for Fund managers, Custodians, and Administrators to operate and with their significant contribution the Cyprus fund market shall continue developing.

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Training Objectives

Participants of this seminar will be given the opportunity to gain a brief overview of AIF Funds, and a deep insight into the role and operations of the Fund Administrator and the systems and processes essential to carry out the fund administration function effectively and efficiently.


Training Outline

An Introduction to Cyprus Funds

  • Historical Background: From the ICIS to AIF
  • The Legal Framework, Scope and Developments
  • An overview of the Cyprus Fund Market today
  • The Prospects and the Constraints
  • The various types of Funds and their classification, the legal form and structure, basic legal characteristics of AIF Funds
  • The various actors in the Funds’ industry and their respective Roles
  • Fund Set Up and Authorisation; a brief insight into the process of setting up a fund and applying for authorisation
  • The role and responsibilities of fund administration
  • Valuing and pricing investment funds
  • Managing sources of risk
  • Maintaining fund compliance with regulatory and tax rules.
  • What are the key operational roles and responsibilities?
  • Transfer Agent and Units Register

  • The Transfer Agent Function
  • Subscription of Units in the Fund
  • Information/documents required before subscription
  • Unit Holders Register
  • Redemption of Units from the Fund
  • Suspensions of Redemption
  • Marketing and Distribution of Units
  • Test of Well-informed/Professional Investors
  • The Transfer Agent Process and information Flows
  • AML and Investor Compliance

  • AML and KYC Systems and Procedures
  • Customer Due Diligence
  • The Risk Based Approach
  • The 4thAML Directive
  • Investor Documentation Requirements
  • Building Investors’ Economic Profile
  • Reporting for AIF Funds
  • Fund Accounting and the Valuation of Assets

  • Organisational and Operational Procedures & Measures
  • Operational controls including traditional and international settlement systems
  • Information Flows & Trades Processing
  • Cash Movements and Reconciliation
  • Accrued Expenses and Fees Set Up
  • List of Expenses Illustration
  • How to treat corporate actions/security prices/exchange rates
  • Pricing methodology and Valuation
  • An Illustration of NAV Price calculation
  • Statistical Reporting
  • Tax on AIF Funds

  • Basic Tax Provisions on Funds
  • The Common Reporting Standards and their effect on AIFs
  • Legal Developments affecting Fund Administrators

  • How they will be affected and the steps they will have to take to fully comply.
  • The changing nature of investment strategies and products
  • New Law aiming to regulate the Administrator
  • The Registered Fund
  • The Mini Manager
  • DATA Protection ACT

  • Who Should Attend

    The programme will benefit several professionals and job functions:

  • Investment Funds Professionals
  • Fund Administrators
  • Fund Custodians
  • Legal Professionals that deal with Funds
  • Compliance Officers
  • Investment Advisors
  • Portfolio Managers
  • Risk Managers, Accountants
  • Fiduciary Service Providers
  • Other Professionals who wish to gain an insight into Cyprus Funds Law and more specifically Fund Administration

  • Industry Expert | Bruce Lawrence

    Bruce Lawrence, has over 43 years securities industry experience, provides consultancy, training, advice and technical assistance principally focused at the securities servicing arena and the development of the capital markets infrastructure of frontier and emerging markets.

    He has consulted and trained on the full spectrum of securities markets instruments (debt, equity & derivatives), Corporate Governance, Operational Risk, Custody, Clearing & Settlement, Fund Administration and assisted in the creation and further development of Central Securities Depositories (CSD’s), Central Counterparties (CCPs), Stock Exchanges and Domestic Custody Operations. Assignments have taken him to the following markets: Albania, Estonia, Ghana, Jordan, Kuwait, Mongolia, Pakistan, Qatar, Nigeria, Russia, USA, Uzbekistan and Vietnam.


    Training Style

    The training style is both training-focused, involving a combination of presentation and real-live examples, but also learner-focused, where participants are encouraged to share their opinions from their different perspectives and engage in an exchange of views and personal professional experiences.


    CPD Recognition

    This programme may be approved for up to 5 CPD units in Financial Regulation. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.



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