Services to investment funds’ depositories
Safekeeping of investment fund assets and oversight of fund activity.
An investment fund is a financial institution established in the form of a joint-stock or unit investment fund that raises funds and invests them in the manner set out in its investment declaration with the aim of generating profit. The fund’s assets must be held separately from its manager — this is the main mechanism for protecting investors.
Functions of the depository
- Safekeeping and recording of the fund’s assets;
- Maintaining the register of unit holders or shareholders;
- Overseeing the calculation of net asset value;
- Checking that the manager’s operations comply with the investment declaration;
- Reporting identified non-compliance to the regulator.
Acting as depository of investment funds, the NDC ensures both the safe custody of assets and independent oversight of the fund’s activity.