The seminar studies the fund industry in Cyprus, with a particular focus on the function of fund administration. The seminar provides an overview of how the fund industry operates, providing key points on the organizational structure of funds and their different characteristics (Section 1). In addition, the seminar studies the profession of Alternative Investment Fund Managers (AIFMs) (Section 2), before it proceeds to analyze the key roles and duties of fund administration (Section 3). In accordance with Cyprus Law, fund administration falls within the function of fund management. Yet, the seminar sets out the prevailing market practice, whereby fund managers will typically only focus on portfolio management and risk management and outsource fund administration. Hence, Section 4 presents the proposed Investment Fund Administration Law (IFA Law), to examine the rationale underlying the proposed law and its key provisions, including provisions on the authorization of fund administrators and the sub-delegation of fund administration.
Upon completion of this seminar, participants will:
Have a general understanding of how a Cyprus fund operates;
Be aware of the different service providers involved in the operation of a fund and their individual roles;
Know of the characteristics and importance of the function of fund administration, as that has evolved based on commercial needs and outside any regulatory intervention;
Have understood the most important points of the proposed IFA Law and appreciate the impact that this may have on the different service providers, fund administrators and funds in particular;
Lawyers, Fund Managers, Fund Administrators, Providers of Depositary Services, Individuals with executive and non-executive position in funds and UCITs, compliance officers, anti-money laundering officials, investors, policy officials, licensing service providers, auditors and accountants, university students and generally anyone with an interest in or who is involved in the Cyprus fund industry.
All participants will be awarded a certificate. Each hour of attendance will account for one unit of Continuing Professional Development (CPD) as required for members of most professional bodies.