Introduction to UCITS Fund Administration

Course Code:	IUA 1111
Dates:	On a date of your choice
Venue:	City of London
Course Fees:	Available on application
CPD Credits:	12 hours

This programme and any element of it can also be run in-house at a time and location to suit your business. Please telephone 020 3170 5779 or email enquiries @ctp.uk.com to discuss your requirements.

Course Outline & Objectives

This practical two day course will provide a clear explanation of how UCITS funds are created, invested, managed and administered.

Key areas covered include:

Fund types and structures
Role and responsibilities of different players
Investment and borrowing
Dealing and settlement
Pricing and valuation
Breaches and errors
Marketing, distribution and client communications

Attending this course will enable you to:

Increase your understanding of UCITS funds and how they operate
Get to grips with key technical and operational issues
Know how to comply with regulatory requirements
Recognise and avoid common breaches and errors
Enhance your communications with fund managers, investors, sponsors, fund services providers, custodians and regulators

Who will benefit?

This course will be of value to a range of professionals in fund management or fund administration firms, including those responsible for:

Operations
Compliance
Risk
Audit
Fund administration
Fund services
Custodian
Finance

Course Leader: Darren Burrows

The course will be led by Darren Burrows, a Director at Funds-Axis. Darren is a qualified Chartered Accountant and Funds Expert with a comprehensive working knowledge of fund and share class accounting and strong familiarity with a number of leading fund accounting platforms.

Darren has supported large scale fund amalgamations and mergers, transitions of fund accounting platforms and outsourcing initiatives. He has supported Managers and Administrators in benchmarking and enhancing their fund accounting systems, controls and processes as well as supporting significant pricing error re-work projects.

Recent work has focused on governance over fund accounting arrangements and process re-engineering. This has included SLA development and re-engineering and development of service credit regimes in respect of outsourced fund accounting arrangements.

Course Agenda

AN INTRODUCTION TO UCITS FUNDS	Retail funds - Open to the public Redeemable on demand Operate on principle of risk spreading Fund structures - Umbrellas, sub-funds and shareclasses Roles and responsibilities - ACD, Fund Manager, Fund Administrator, Transfer Agent, Trustee, Custodian
INVESTOR DEALING	Unit holder Dealing Unit holder dealing Purchases, redemptions, switches Cash vs in specie payments Dealing prices – single or dual, dilution methods Creations and cancellations Handling cash flows in funds The Managers box Late dealing issues
INVESTMENT AND BORROWING POWERS	UCITS III vs UCITS I Eligible assets for UCITS Spread and concentration rules Using derivatives – EPM vs Investment purposes Key fund types – index funds, fund of funds, guaranteed, capital protected
FUND VALUATION	General Forward pricing principles Valuation point Valuation frequency Components of the NAV Trade vs Settlement based accounting Capital Equities, bonds and deposits Suspended, unquoted and difficult to price securities Key controls Income Deposit interest Bond interest Dividend income Charges and expenses Initial charges AMC Switching fees Performance Fees (COLL) Income and capital expenses Accruals methods Taxation Fund taxes - Corporation tax, Withholding tax, SDRT , VAT
DISTRIBUTIONS	Income vs Accumulation shares Distributions and Unclaimed Distributions Processes
BREACHES AND ERRORS	Pricing errors Examples of how pricing errors can arise Trade capture, suspended securities, incorrect accruals etc Regulation re. pricing errors – materiality, FSA reporting etc Processes for resolution of pricing errors Investment and borrowing breaches Different types of breaches How breaches can occur – dealing, stock and fund pricing, amalgamations etc Advertent vs Inadvertent Resolution of investment and borrowing breaches
FUND DISTRIBUTION AND INVESTOR COMMUNICATIONS	Key distribution channels – IFAs, Fund supermarkets Contract notes Prospectus, simplified prospectus and key disclosures Key Investor Information Document (KID) Report and Accounts Fundamental, significant and notifiable change events

Booking

If you are interested in booking this course, or if you have any questions, please call call us on 020 3170 5779.

Linked In

RSS

““The review of our T&C scheme carried out by CTP really tested our controls and showed us how to make the approach more efficient in a practical and business focused context.”
- Liz Cameron, Head of Direct Sales Compliance, Scottish Widows
“Very timely, excellent content, covered a lot in a short time.”
- by Nicky Christofides, Head of Compliance at GE Money
“CTP provided us with a versatile range of training services from e based testing to technical modules and skills training for our advisers and sales management. They work quickly to satisfy deadlines and think creatively to achieve sustainable results. ”
- Ian Lockhart, Sales Operations Director, Scottish Widows
“I would recommend this event on Understanding Insurance Accounting to anyone new to the insurance industry whether or not they are proficient in financial accountancy. ”
- David Statham, Group Internal Auditor, IGI Insurance
“Role play situations really helped to put the theory of the course into an understandable context that I could relate to.”
- Countrywide
“An excellent industry focused overview of the subject pitched at the right level for all attending. We took value from the day as a team.”
- Barclays Insurance Services Ltd
“Good structure, content and pace of learning”
- Group Compliance Manager, Clarke Roxburgh
“An excellent all round briefing with detail and in depth exploration where necessitated”
- Tim Sierwald, Audit Manager, Assurant Solutions
“The session really made me think about the how to apply the theory of Risk Based Management. Lots of great thought provokers and break out sessions were extremely useful. ”
- Anna Mansbridge, Business Quality Technician, Allianz Cornhill
“We commissioned CTP to undertake a competency review. They listened well, spoke our language, took time to understand our needs and provided a workable solution in a cost effective manner.”
- John Moffatt, Compliance Director, Riverstone
“Pitched at appropriate level with good mix of tell and activity based learning”
- Legal & General
“A difficult subject communicated effectively and in a relaxed manner. Thank you.”
- S J Fisher, Managing Director, Colemans
“CTP have a thorough understanding of the "regulation" … but more importantly the ability to … translate it into company process efficiently and with the minimum of fuss.”
- John Constable, Head of People Development, JLT Risk Solutions Ltd
“A very succinct and highly knowledgeable explanation and presentation of the subject”
- Duncan Howorth, Managing Director, JLT
“CTP very quickly got to grips with our requirements and tailored the course to meet our needs. We had a fantastic dialogue going with our management group. ”
- MD, Assurant Solutions
“CTP's training gave me a vital opportunity to consider the Arrow 2 process and has given me a head start in preparing for this important business event ”
- Simon McCulloch, Business Development Director, Countrywide
“The trainer had superb knowledge of our company, our industry, the regulator and communicated in 'plain English'. There was no jargon. An excellent day! ”
- Ceara Joyce, Head of Risk with Profits, Legal and General
“I found this event of great benefit. Trainer is fantastic. One of, if not the, best courses I have ever been on. Thank you so much.”
- Rensburg Sheppards
“This was fantastic - I would not hesitate to go on another of these courses in the future. Thoroughly recommended. Very good -knowledgeable & approachable”
- Harsa Charman, Liverpool Victoria
“Excellent course, useful practical tools given”
- Co-operative Bank
“Essential event for anyone attending an FSA ARROW visit meeting”
- James Cooper, Financial Controller, Locktons
“Very knowledgeable course leader who used his practical experience well.”
- By Derek Wood, Compliance Manager at Skandia UK
“Useful consideration of the compliance function in the round. Some good reminders and food for thought to help benchmark where our complaince function is.”
- By David Lingwood, Group Compliance Officer, IGI Insurance Co Ltd
“Corporate Training Partnerships have carried out two major projects for us involving consultancy, project work and training of a group of our managers. We were very happy with the results of their work which are standing the test of time.”
- Karen Martin, HR and Communications Director, Britannic Assurance
“I would strongly urge senior managers in the insurance industry to attend this course which really prepares you for FSA interviews.”
- Paul Williams, regional Managing Director, Folgate (Towergate)

Corporate Training Partnerships Ltd, London Office: 60 Lombard Street, London, EC3V 9EA. Tel: 0203 1705779
Milton Keynes Office: Suite 1:20, Second Floor, Norfolk House East, 499 Silbury Boulevard, Milton Keynes, Buckinghamshire, MK9 2AH Tel: 01908 488170

Web Design by Zarr