Fund Passporting Service

Over the past decade, FundAssist has helped many asset managers expand their distribution reach both within the EU and well outside the EU region, taking full advantage of the strength of the UCITS brand. FundAssist is fully aware of the business needs driving the requirements of foreign registrations including the time to market pressures, the cost of market entry and local compliance risks. Our depth of experience and our extensive network of language, logistical and servicing agents allow us to provide a solution that is easier, faster and less expensive than alternatives.

The introduction of UCITS IV will allow greater efficiencies in the registration process within the EU and we are now helping our clients prepare for this transition and take full advantage of the opportunity it presents. The Key Investor Information Document (KIID) will be an essential part of the new process and we have developed a service to facilitate its introduction.

Initial Registration of Funds

FundAssist offers a project management service that is specifically developed for the complex process of international fund registrations, both within the EU and further afield. Our experienced team ensures that the registration process is conducted as efficiently and speedily as possible.

At the outset of a new registration project, FundAssist develops a timeline setting out each step in the process and budgets agreed. Where a new product is being launched, multiple registrations may be required and FundAssist harmonises these projects to ensure maximum efficiency.

FundAssist manages the preparation of the initial submission to the regulator. Our network of translators has particular experience in translating fund constitutional documents. Our glossary of industry-specific terminology, automation tools and proven process ensures tight control over quality, costs and turn-around times.

Once the initial submission is made, queries, clarifications and requests for more information can arise. A key aspect of our service is the ownership of these issues through to successful resolution. We ensure speedy and effective communications between the parties involved and bring our experience to bear in finding solutions.

FundAssist has built up an extensive network of local agents over the last decade. Our practical knowledge can be used to select the most efficient local agents and in many cases avoid excessive reliance on local lawyers. This has led to a faster, more efficient and less costly process for our clients.

FundAssist works with local agents appointed by our clients as well as our own network of agents. We can suggest alternatives for consideration, share our experiences and assist with the selection process. We can also manage the contractual arrangements as needed.

Our team is supported by an in-house knowledge database that is constantly updated from a variety of sources including ongoing research work, input from our agent network and scanning of local developments.

Apart from the formal registration process, FundAssist can assist with other local requirements such as appointment of paying agents, translating fund marketing information, translating and distributing investor communications and translating legal agreements.

Ongoing Registration Support

In order to maintain registration in each of the jurisdictions, FundAssist ensures that recurrent regulatory filings and other obligations are met in a timely manner.

FundAssist coordinates the recurrent filing of fund documentation and the meeting of other ongoing obligations to the relevant overseas authorities. Filing of annual reports is a usual requirement and our unique parallel translation process is designed to meet tight filing deadlines.

FundAssist also manages projects where changes to the fund range, such as addition or deregistering of sub-funds or share classes, require updating of the local registration.

FundAssist manages all the parties and relationships involved in the process.

FundAssist prepares the relevant translation requirements for revised documentation and liaises with host counsels in order to obtain approval. Marked up versions of the documents are included in the files sent to host counsel to show the changes made. This ensures language consistency across translated documentation and allows the client to benefit from the semi-automated translation process, while storing any host counsel comments in our translation memory for future translation.

Registration Website

FundAssist has developed management, communications and reporting tools to meet the specific needs of the registration and filing process. They allow detailed tracking of sub-projects and tasks within an overall registration project and greatly simplify the interaction between the parties involved in the process.

Our clients are kept fully informed through the registration website. This website provides a summary of outstanding and completed projects. A detailed status report is available for each registration project and ongoing filing obligations.  Our website can form part of a comprehensive fund data solution to simplify the overall product maintenance and management process for a range of UCITS and non-UCITS funds.