bringing fund managers and buyers together GLOBAL FUND PLATFORM

Transcription

1 bringing fund managers and buyers together GLOBAL FUND PLATFORM

2 RBC Investor & Treasury Services is a global brand name and is part of Royal Bank of Canada. RBC Investor & Treasury Services is a specialist provider of asset servicing, custody, payments and treasury services for financial and other institutional investors worldwide. RBC Investor Services operates through two primary operating companies, RBC Investor Services Trust and RBC Investor Services Bank S.A., and their branches and affiliates. In the UK, RBC Investor Services Trust operates through a branch authorized by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. This material is not for distribution to retail clients as defined under the rules of the FCA. The Dubai Branch of RBC Investor Services Trust is regulated by the Dubai Financial Services Authority. In Australia, RBC Investor Services Trust is authorized to carry on financial services business by the Australian Securities and Investments Commission under the AFSL (Australian Financial Services Licence) number In Singapore, RBC Investor Services Trust Singapore Limited (RISTS) is licensed by the Monetary Authority of Singapore (MAS) as a Licensed Trust Company under the Trust Companies Act and was approved by the MAS to act as a trustee of collective investment schemes authorized under S 286 of the Securities and Futures Act (SFA). RISTS is also a Capital Markets Services Licence Holder issued by the MAS under the SFA in connection with its activities of acting as a custodian. In Hong Kong, RBC Investor Services Bank S.A. is a restricted license bank and is authorized to carry on certain banking business in Hong Kong by the Hong Kong Monetary Authority. RBC Investor Services Trust Hong Kong Limited is regulated by the Mandatory Provident Fund Schemes Authority as an approved trustee. These materials are provided by RBC Investor & Treasury Services (RBC I&TS) for general information purposes only. RBC I&TS makes no representation or warranties and accepts no responsibility or liability of any kind for their accuracy, reliability or completeness or for any action taken, or results obtained, from the use of the materials. Readers should be aware that the content of these materials should not be regarded as legal, accounting, investment, financial, or other professional advice, nor is it intended for such use. / Trademarks of Royal Bank of Canada. Used under licence.

3 bringing fund managers and buyers together The evolving fund distribution landscape presents a highly dynamic and challenging environment for both fund buyers and managers. The increasing adoption of open architecture, the expansion of cross-border distribution, growth of wealth management solutions and the regulatory evolution designed to deliver greater investor transparency present both challenges and opportunities for market participants. introducing global fund platform Through its unique global offering, RBC Investor & Treasury Services can provide solutions to help both managers and buyers fully exploit and adapt to the dynamics of the fund distribution market. a dedicated solution for fund buyers Our Global Fund Platform allows fund buyers to optimise fund selection in an open architecture environment with access to more than 84,000 share classes registered with a network of 400 transfer agents. The Global Fund Platform can facilitate the investment process through simplified and secure trading and settlement with RBC Investor & Treasury Services as the main contact. > > Increase revenue and improve transparency dedicated solution for fund managers Our Global Fund Platform also serves the fund manager, helping them to extend their fund distribution to new markets. The Global Fund Platform can increase the visibility of fund manager offerings to distributors and provide full transparency and comprehensive data management on the distribution network, including real time reporting, compliance monitoring and due diligence of sub-distributors. The Global Fund Platform can also reduce operational and distribution costs and helps simplify trading infrastructure. Our service can help managers: Our service provides access to pre-negotiated intermediary agreements across a broad spectrum of fund buyers. In addition, our service helps fund buyers: > > Streamline processes by supporting fund selection and client management with an online quantitative analysis tool > > Reduce cost and risk > > Increase revenues through the promotion of funds to more buyers > > Provide more transparency and detail on who is investing in funds > > Reduce costs by utilising straight through processing (STP) links to transfer agents, providing automated trailer fee solutions and reducing the legal workload related to intermediary agreements with fund buyers distributor investor fund a swift ftp web - economies of scale - operational risk reduction distributor investor fund b - single access point - back office support swift ftp distributor investor fund c

4 bringing fund managers and buyers together transaction management Comprehensive services supporting the trading process including: analytical services Comprehensive investment decision and performance monitoring support tool, including: > > Order routing and settlement of transactions > > Reconciliations and account maintenance > > Portfolio position keeping > > Corporate action processing > > Comprehensive fund database > > Online information and reporting > > Cash management and order settlement > > Foreign exchange and transaction orders > > Fund screening and selection > > Risk reporting > > Portfolio back testing and fund aggregation fund intermediary service Intermediary service between fund managers and buyers for the establishment of standard intermediary agreements assisting with: > > Negotiation of distribution terms of business > > Legal management of intermediary agreements > > Revenue sharing program > > Trailer fee administration

5 transaction management Through its Global Fund Platform, RBC Investor & Treasury Services provides solutions to help fund buyers and managers fully exploit the dynamics of the global investment fund market. Our highly flexible offering includes transaction management, administration of trailer fee processing and fund intermediary services, and a comprehensive analytical services module, including fund screening tools, performance measurement and risk analysis. focus on transaction management Fund data base The platform provides access to more than 84,000 share classes. The types of funds include mainstream funds, ETFs, and hedge funds across a range of domiciles. Using a sophisticated search facility, clients locate funds using various data points including their investment criteria.* Once located, the platform provides access to all of the fund documentation including factsheets, prospectus and KIIDs for review. order routing The platform handles many order types, including subscriptions, redemptions, transfers of shares and switches. We accept deals in amounts and shares, across multiple currencies. Buyers navigate an intuitive web portal, GFP online, for trading, enquiries, reporting and other added value services. We also support a variety of straight through processing (STP) solutions including SWIFT, SWIFT XML, CSV and FTP files. trading account maintenance By operating as a single trading venue for clients fund activity, we can present a consolidated view across all of their fund holdings and transactions. On behalf of clients, we process all corporate event activity including: cash dividends (including reinvestment), mergers, splits and liquidations. cash management and settlement Clients hold cash accounts at RBC Investor & Treasury Services to settle all cash movements, trailer fees and corporate action proceeds. These accounts increase efficiency by eliminating the need for individual trade payments. Clients can pay in a range of different currencies and our system will automatically manage the FX settlement into the appropriate currency. online reporting In addition to the reporting available through GFP online, we offer standard, flexible and ad hoc reporting in a variety of formats including PDF, CSV files, SWIFT and fax and in whatever dates clients require. Reporting can be accessed online. For mainstream funds, we offer a 45 minute cut-off time before the official deadline of the fund for automated transactions and a two hour cut-off time for fax instructions. Hedge fund cut-off times range from 2-5 business days before the official target fund deadline. * RBC Investor & Treasury Services does not provide investment advice.

6 fund intermediary service Through its Global Fund Platform, RBC Investor & Treasury Services provides solutions to help fund buyers and managers fully exploit the dynamics of the global investment fund market. Our highly flexible offering includes transaction management, administration of trailer fee processing and fund intermediary service, and a comprehensive analytical services module, including fund screening tools, performance measurement and risk analysis. focus on fund intermediary service For clients who wish to invest in a wide range of funds but lack the necessary administration and legal infrastructure, we provide a holistic solution. negotiation of distribution terms of business RBC I&TS has negotiated Intermediary Agreements covering terms of business including trailer fee rates with a broad range of fund management companies. Clients benefit from pre-negotiated trailer fees, enabling them to gain advantage from our scale through a single agreement. transparent commission arrangements Our program offers transparent trailer fee calculation for clients holdings, where our clients receive 100% of the trail fee negotiated. The platform provides a consolidated view of trailer fees due from each manager and we can provide flexible account structures facilitating reallocation of income. trailer fee administration The platform manages the set-up and maintenance of your trailer fee arrangements with each manager, including: > > Trailer fee calculation and validation > > Consolidated reporting > > Consolidated payment using pre-set client payment instructions > > Proactive payment collection fund manager / global distributor fund buyer / sub-distributor ia global fund platform tsa payment of client trailer fee to global fund platform based on ia INVOICE invoice FROM from RBC rbc I&TS is global fund platform payment of full trailer fees agreed in tsa INVOICE invoice FROM from RBC rbc I&TS is payment of fees for global fund platform services (ts+as) ia - intermediary agreement tsa - transaction support agreement ts - transaction support as - analytical services

7 analytical services Through its Global Fund Platform, RBC Investor & Treasury Services provides solutions to help fund buyers and managers fully exploit the dynamics of the global investment fund market. Our highly flexible offering includes transaction management, administration of trailer fee processing and fund intermediary service, and a comprehensive analytical services module, including fund screening tools, performance measurement and risk analysis. focus on analytical services Within our Analytical Services, the Global Fund Platform presents a comprehensive investment decision and performance monitoring support tool for fund buyers. This tool is fully integrated with our transaction management platform, providing a one-stop solution for our clients. fund screening and selection Our services offer quantitative and qualitative search criteria across more than 84,000 share classes. portfolio backtesting and fund aggregation Our specialised backtesting and fund aggregation capabilities support the: > > Creation of watchlists, benchmarks and portfolios > > Risk and performance evaluation > > Attribution analysis (currency, country of domicile, category, asset type, investment region and NAV frequency) > > Contribution analysis to detect risk and return drivers of the portfolio We provide online factsheets including details of: > > Performance and risk statistics > > Master data > > Lipper ratings > > Dividend details > > Investment rules > > Applicable fees > > Party information Our service offers a range of 35+ fund statistics calculated for different frequencies and time horizons. risk reporting Our analytical services provide risk reporting around absolute and relative risk measures such as standard deviation, Sharpe ratio, beta, tracking error and alpha helping clients to assess the adequacy of their portfolio versus their investment strategy.

8 ABOUT US RBC Investor & Treasury Services (RBC I&TS) is a specialist provider of asset servicing, custody, payments and treasury services for financial and other institutional investors worldwide. We serve clients from 18 locations across North America, Europe and the Asia Pacific region. We deliver custodial, advisory, financing and other services to safeguard clients assets, maximize liquidity and manage risk in multiple jurisdictions. RBC I&TS is ranked among the world s top 10 global custodians, with USD 3.1 trillion (CAD 3.1 trillion) in client assets under administration (as at Q3 2013). contacts Richard Hale Global Fund Platform Sales T +44 (0) richard.hale@rbc.com americas John Lockbaum Head, Investor Services, Canada john.lockbaum@rbc.com Brent Reuter Head, Investor Services, U.S. brent.reuter@rbc.com europe, middle east and africa Sébastien Danloy Head, Investor Services, Europe & Offshore sebastien.danloy@rbc.com Padraig Kenny Managing Director, Ireland padraig.kenny@rbc.com Simon Shapland Managing Director, UK simon.shapland@rbc.com Philippe Legrand Managing Director, France philippe.legrand@rbc.com Marco Siero Managing Director, Switzerland marco.siero@rbc.com José María Alonso-Gamo Managing Director, Spain jm.alonsogamo@rbc.com Mauro Dognini Managing Director, Italy mauro.dognini@rbc.com Marc Vermeiren Managing Director, Belgium marc.vermeiren@rbc.com Cormac Sheedy Senior Executive Officer, Middle East and Africa cormac.sheedy@rbc.com asia-pacific David Travers Head, Investor Services, Asia Pacific david.travers@rbc.com Andrew Gordon Head, Investor Services, Hong Kong and North Asia andrew.gordon@rbc.com Diana Senanayake Managing Director, Singapore and Malaysia diana.senanayake@rbc.com rbcits.com