What past delegates say?
"Very Impressive and informative course."
Portfolio Compliance Analyst, Schroders
"Very good course, I wish I did it earleir!"
Head of Risk, Hermes Investment Management
"Good internaction and kept my attention."
Middle Office Accountant, Man Group
"Excellent - Informative and well paced."
Investment Process Manager, True Potential Portfolios
UCITS Funds Training
This highly practical 1 day course covers the whole UCITS framework with a particular focus on the latest developments in UCITS funds. As a result of the Madoff fraud and the Lehman Brothers default, the European Commission have issued the UCITS V Directive, which has a major impact on managers and depositaries in terms of remuneration and reporting requirements. All these changes will be covered in detail.
This one day workshop is intended to provide staff with the appropriate knowledge and skills to set up and manage UCITS funds. The course assumes limited previous knowledge of funds. All aspects of UCITS fund management and operations are covered with particular emphasis on high risk areas in operations. The programme includes many case studies on pricing errors, investment breaches, failures of risk controls and failures of fund governance. We will also examine in more detail particular concerns of the regulators when reviewing fund managers to help you become fully aware of all the compliance requirements.
What Will You Learn
By the end of this course you will have a solid understanding of:
Book also for Regulations & Operational Compliance for Funds on 28 Mar 2017 and save additional £100 +VAT! (in total, not per programme)
Main Topics Covered During This Training
Main topics covered:
Who Should Attend
This event will be of value to anyone running or setting up UCITS funds including fund management, transfer agency, fund accounting, compliance, audit, operational risk and depositary staff.
Asset and Fund Management, Investment Banking, Hedge Funds and Institutional Investors with the following background:
UCITS Funds - a One Day Course
Session One: Introduction to UCITS
- Fund types in Europe
- UCITS, NURS, QIFs, Unauthorised Collective Investments
- What are UCITS?
- UCITS I - IV
- Who sets them up?
- Alternatives - the AIFMD
- Distribution of UCITS
- UCITS Products: long only, ETFs & Alternatives
Session Two: Structuring UCITS
- Legal structures
- UK -v- Ireland -v- Luxembourg
- Variable Capital Investment Company
- Unit Trust
- Common Contractual Fund
- Key differences
- Sub-Funds/Classes: assets/liabilities; distinguishing features
- UCITS Management Company
- Self-Managed Investment Company
Session Three: The Main Parties
- Transfer Agent
- Fund accountant
- Investment manager
- Legal adviser
- Who requires oversight?
Session Four: The Key Regulations
- Regulations in the UK, Ireland and Luxembourg
Session Five: Fund Governance
- Oversight by the Board
- Oversight of third parties
- The importance of challenge
- Fund governance and UCITS IV
- Service Level Agreements
- Identification of key SLAs
- Key Risk Indicators
- Key Performance Indicators
- Oversight organisation - first and second lines of defence
Session Six: Latest Development - UCITS V
- Key Issues
- Summary of UCITS V changes compared with UCITS IV and the AIFMD
Session Seven: UCITS V - the depositary
- Delegating custody
- Oversight & monitoring
- Reuse of assets
Session Eight: Fund Documentation
- Trust deed/Instrument of incorporation
- The prospectus
- Investor documentation
- Report & accounts
- TER & OCF
Session Nine: Investment & Borrowing Powers
- UCITS -v- NURS
- Eligible assets
- Investment restrictions
- Advertent and inadvertent errors
- Monitoring investment & borrowing powers
Session Ten: Setting up UCITS Funds
- The Prospectus
- Selecting third parties
- Interaction with Regulator
- Documentation List
- Typical timeline
Session Eleven: Fund Oversight
- Compliance monitoring plans
- Risk based reviews
- Key concerns of the FCA
- Evidence of good fund governance
Questions and Answers
Mark is a management consultant with thirty years experience of transfer agency, fund administration and wealth management. He graduated from the University of Cambridge with an MA in Natural Sciences.
Prior to setting up his own specialist fund administration consultancy, Mark spent three years as a computer programmer and project manager. He then joined Schroders where he automated the manual unit trust operations. He subsequently became Head of Administration and helped set up a third party administration company which specialised in launching new fund administration clients.
For the last 18 years, Mark has worked as a consultant with many of the leading managers to select and implement transfer agency and fund administration services in Europe. He has worked with over 50 well known clients across the asset management sectors on projects as diverse as fund launches, operations and systems reviews, TA service centre implementation, UCITS compliance reviews, fund administration outsourcing and training.
He is a Chartered Fellow of the Chartered Institute for Securities and Investments as well as co-founder and Deputy Chairman of the IT Forum.
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