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"Very Impressive and informative course."

Portfolio Compliance Analyst, Schroders

"Very good course, I wish I did it earleir!"

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Investment Process Manager, True Potential Portfolios

UCITS Funds Training

Register Now

5 Oct 2017 London

Special Summer Promotion until 20 Aug £775 + VAT. Regular price £950 + VAT. Group discount: 10% discount for 3 people.

Course Description

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:

  • The key characteristics of UCITS, their structure and objectives
  • The main regulatory aspects and the differences in setting up funds in the UK,  Ireland and Luxembourg
  • How to structure UCITS 
  • The main changes under UCITS V 
  • The necessary documentation required
  • The main parties involved and their role
  • How to organise fund governance
  • Key risk and performance indicators
  • Organising compliance monitoring and fund oversight
  • The latest market developments
  • The implications of Brexit on UK UCITS Funds

 

Book also for Regulations & Operational Compliance for Funds on 6 Oct 2017 and save additional £100 +VAT! (in total, not per programme) 

Main Topics Covered During This Training

Main topics covered: 

  • The key features, use and structure of UCITS
  • Comparison with AIFMD
  • UCITS distribution 
  • UCITS products: long only, ETFs and alternatives
  • UCITS structuring
  • The latest developments under UCITS V: remuneration, reporting and depositary requirements
  • UCITS V timelines
  • Main parties involved and their role
  • Structuring UCITS and authorisation process in Luxembourg and Ireland 
  • Fund governance
  • Fund documentation 
  • Investment & borrowing power
  • Setting up UCITS
  • Key risk and performance indicators
  • The implications of Brexit on UK UCITS Funds

 

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:

  • Funds Management
  • Investment Management
  • Fund Administration
  • Portfolio Management
  • Structuring
  • Risk Management
  • Lawyers
Register Now

5 Oct 2017 London

Special Summer Promotion until 20 Aug £775 + VAT. Regular price £950 + VAT. Group discount: 10% discount for 3 people.

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
  • Subsidiaries
  • UCITS Management Company
  • Self-Managed Investment Company

Session Three: The Main Parties

  • Transfer Agent
  • Fund accountant
  • Custodian
  • Depositary
  • Investment manager
  • Auditor
  • Legal adviser
  • Who requires oversight?

 


Session Four: The Key Regulations

  • Regulations in the UK, Ireland and Luxembourg
  • COLL
  • SYSC
  • CASS
  • SUP
  • COBS

 

Session Five: Fund Governance

  • Oversight by the Board
  • TCF
  • Risks
  • 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

  • Background
  • Key Issues
  • Remuneration
  • Reporting
  • Summary of UCITS V changes compared with UCITS IV and the AIFMD
  • Timescale

 

Session Seven: UCITS V - the depositary

  • Delegating custody
  • Eligibility
  • Liability
  • Oversight & monitoring
  • Reuse of assets
  • Insolvency

 

Session Eight: Fund Documentation

  • Trust deed/Instrument of incorporation
  • The prospectus
  • KIID
  • 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

 

Vivien is a management consultant with 26 years experience of transfer agency, fund administration and wealth management. She received her formal education in South Africa and immigrated to the UK in 1999 where she collectively held various senior roles in investment/fund administration firms, until she undertook her own consultancy practice 10 years ago.

Prior to setting up her own specialist fund administration consultancy, Vivien spent many years as a project manager for system selections and integrations, platform migrations, fund launches and wind-ups and custody migrations. She joined Smith & Williamson Fund Administration in 2000 where she vastly improved process and automation to manually intensive OEIC/Unit Trust operations over a period of 7 years.

Vivien held the role of Head of Operations in multiple firms both in South Africa, notably RMB Asset Management, and then in the UK at Smith & Williamson, and was instrumental in expanding the SA enterprise vastly over a period of 12 years, including a full firm rebranding. 

For the last 10 years Vivien has worked as a business and management consultant with many of the leading managers to implement fund administration services in the UK. She has worked with well known clients across the asset management industry on a range of diverse projects listed above, and also including regulation implementation in the form of EMIR, AIFMD, Form PF, FATCA/CRS, SFTR, MIFID I and II and UCITS I-V.

She is a Chartered Fellow of the Chartered Institute for Securities and Investments and holds status of MSCI. Attaining full Member status indicates a high level of knowledge in financial services as well as a commitment to the principles of professionalism, integrity and excellence. It is both a sign of achieving a higher level financial qualification, and of a desire for professional development.

UCITS Funds Training <p>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 cover ... 1507161600 London