SICAV Briefing
Short course
In
Description
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Type
Short course
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Level
Beginner
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Duration
1 Day
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Start date
Different dates available
SICAV Funds based in Luxembourg are becoming of increasing interest to UK and other European Fund Managers concerned to have Pan European Funds with the maximum appeal, reputation and tax efficiency. This Briefing gives a complete review as to the Structure, Documentation and Administration processes of a Luxembourg based SICAV. Suitable for: Fund Administration Managers - Fund Managers & Stockbrokers - Marketing Managers of Mutual Funds - Product Designers - Linked Life Administration Managers & Fund Managers - Lawyers & Accountants needing a complete overview - Custodians - IT Executives and Consultants designing Mutual Fund Systems
Facilities
Location
Start date
Start date
About this course
A basic knowledge of Mutual Fund structure is assumed eg of OEICS, ICVCs, Unit Trusts (any type).
Reviews
Subjects
- Financial Services
- Investment Banking
- Investment
- Marketing
- Systems
- IT risk
- Accountants
- Mutual Funds
- Regulations
- Tax
Course programme
SICAV Briefing Training
Content
1 Structure & Legal Background
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European Context. Meaning of UCITS.
- The Luxembourg Regulations and relevant laws
- Who is the Regulator
- The "SICAV" - Investment company with Variable Capital and OEIC.
- Umbrella, Fund & Sub Fund structures explained.
- Meaning of Classes of shares
- UCITS III and IV: meaning and importance
Luxembourg FCP Structure
2. The Parties Involved in a SICAV Structure & Their Roles
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The Management Company and the Board of Directors
- The Depositary /Custodian and the paying agent
- The Fund Administrators
- The Registrar and Transfer Agent
- The Investment Manager and investment adviser
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The Auditor and the Legal Adviser
- The listing agent
- Role of Intermediary and Distributor
3 Official Documents and Reporting Aspects
- Articles of association
- Simplified prospectus
- Full prospectus
- A half-yearly report covering the first six months of the financial year
- Annual and interim report
- Long form report
4 Other Key Regulatory and Taxs Aspects
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Know your Client
- Meaning of Investment Objective and Restrictions
- Money Laundering aspects
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Impact of the EU Savings Directive
- Risk Management Requirement for UCITS 3 - SICAV (CSSF Circular 07-308)
5 Overview of Valuation & Pricing Process
- Structure of Fees and charges and Commissions
- Asset and Fund valuation
- Meaning of Accruals
- Meaning and calculation of Net Asset Value
- Price Calculation
- Share issuance, redemption, Creation, Cancellation
6 Overview of Dealing and Registar / TA Aspects
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Account Opening
- Switching between sub funds
- Account Maintenance. Account Closing
- Contribution/transfer in kind
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Register of investors. Content. Transfer of holdings.
- Late trading and market timing issues
7 Distribution Process
- Frequency and timing aspects
- Meaning of xd, Record and Payment dates
- Closing the books and distribution calculation
- Reinvestment calculation explanation
Additional information
SICAV Briefing