Custodian bank fund controlComprehensive investor protection
During the launch of new funds (e.g. subfunds), IFAC provides fund management companies / SICAVs with support, for example, in drawing up the fund contract.
Once the fund is launched, IFAC checks whether the fund management company / SICAV is acting in line with the applicable legislation and fund regulations. The controls are performed using dedicated custodian bank systems and databases that are separate from those of the fund management companies / fund administrators. This permits the performance of independent custodian bank controls.
In the event of a fund liquidation, IFAC checks whether the units redeemed correspond to the custodian bank’s accounting records. The liquidation process and the associated payments are also checked.
Certainty of compliance with the quality requirements of regulators through the implementation of modern controls
Adherence to the requirements of CISA, FINMA and the auditors
Independent controls that are not based on fund management company or fund administrator applications / tools
High frequency of controls
NAV plausibility check at every publication
Weekly check of holdings and compliance with the investment guidelines
Flexible structure for different kind of fund solutions