With the implementation of the Alternative Investment Fund Managers Directive (AIFMD) and increasing upcoming regulation, such as UCITS V & 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.
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 the AFM in the Netherlands. As your depositary in the Netherlands, 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. At KAS Trust we have structured our depositary services team to meet the varied needs and challenges you, as a fund manager, 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
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.
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
KAS Trust has been operational since 1966. The current board of KAS Trust, Coen Laan, Rob Kok and Sicco Plesman, and their team have considerable experience across all disciplines and expertise in the careful execution of the custodian role.
Coen Laan has been a Director of KAS Trust since 2006, working for KAS BANK since 1986. Before joining KAS Trust Coen was responsible for various operation departments including derivatives, payments, treasury and custody services.
Rob Kok began working at KAS BANK in 1986 and was appointed Managing Director of KAS Trust in 2008. He is responsible for fulfilling the role of custodian for investment funds as well as being responsible for compliance & risk oversight at board level. Rob has gained extensive experience in various front and back office functions including Client Management, Investment Management Services and Corporate Clients.
Sicco Plesman has worked at KAS BANK since 2007, becoming a Managing Director of KAS Trust in 2013. Previously he was director of Funds and Insurers in the Client Management division of KAS BANK. Prior to this Sicco held various commercial and management positions at Fortis Bank in the Netherlands and Switzerland where he was responsible for providing services to institutional clients.
Managing Director KAS Trust & Depositary Services
+31 20 557 5843