KAS Trust: Depositary Services

The regulatory environment you are in
With the implementation of the Alternative Investment Fund Managers Directive (AIFMD) and increasing upcoming regulation, such as UCITS VI, transparency and investor protection are taking centre stage in the regulation of the fund industry. The protection of investor assets is being imposed on investment fund depositaries through common asset restitution liabilities. Transparency is seen as the driver for improved accountability and efficient capital allocation.

The Role of KAS Trust as your Depositary
The responsibilities of your depositary are:

• Safeguarding interests of Investors;
• Safekeeping and oversight of the Fund’s assets;
• Asset ownership verification and record keeping of the Fund’s assets;
• Cash flow monitoring oversight, reconciliation and account structure review;
• Supervision of NAV calculation and independent review of the NAV process;
• Supervision of the investment policy against applicable rules, regulations and investment objectives.

‘At KAS Trust, we apply our risk and control processes to ensure that, during the life cycle of your investments, assets are managed in line with rules & objectives and ownership is retained at all times’. – Laurens Vis, MD KAS Trust UK

Meeting your needs
At KAS Trust we have structured our depositary services team to meet the varied needs and challenges you, as a fund, face. We demonstrate this by providing you with:

Confidence through independence
• Responsible for compliance and control;
• Neutral and independent from your investment manager;
• Supervision over whole custody chain.

Dedication through specialisation
• ‘Pure play’ depositary – sole purpose to act as depositary for AIFMD & UCITS Funds;
• Long standing experience as a depositary;
• No conflicts of interest - we act in the interest of your investors.

Excellence through Client Services
• Direct access to your team of depositary and securities service specialists;
• Strong and well-structured working relationship to supporting your business;
• We keep you up to date with the latest regulatory changes and provide you with implementation support.

KAS Trust: Our approach to depositary services
At KAS Trust we are a 100% subsidiary of KAS BANK N.V., a pan European specialist custodian and investment service provider. As KAS Trust we independently act as the depositary for investment funds. We are an authorised investment firm with over 20 years of depositary experience regulated by both the AFM in the Netherlands and the FCA in the UK.

As your depositary, KAS Trust assures your compliance with the relevant AIFMD & UCITS requirements. This includes acting as the custodian of your fund’s assets and protecting the interests of your investors.

Safekeeping - Enhanced Protection
With the added benefit of KAS BANK, our affiliated custodian, KAS Trust provides a robust and efficient operational structure. Your assets will be ring fenced and administered in segregated accounts with KAS BANK which means we can give you the highest level of protection possible.

A key element of AIFMD and UCITS V is the increased liability of the depositary for the loss of assets whilst in the depositary’s safe custody. We mitigate this risk through our relationship with our custodian and their rigorous due diligence on its delegates - CSD’s and sub custodians alike.

Our due diligence process incorporates the ongoing review and monitoring of the entire custody chain including active network management and assessment of country and market risks.

Laurens Vis
Managing Director UK Branch KAS Trust & Depositary Services
T +44 (0)207 153 3651
E laurens.vis@kastrust.com


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