Total Fund Services Limited (TFS) is an Australian financial services business that provides essential services to Managed Investment Schemes (MIS) and Separately Managed Accounts (SMA) so that they can be offered to retail investors or listed on a product platform.
If you already have a fund, TFS may contract with you to act as its Responsible Entity (RE). If you have not yet established a fund, we can assist you to set it up and can then enter into an RE relationship with it.
A Responsible Entity is typically required for a retail fund. For a wholesale fund, a Trustee relationship may suffice. TFS can help set up a Trustee controlled fund and then enter into a Trustee relationship with it.
Both you and TFS are required to hold Australian Financial Services Licences (AFSL). If TFS agrees to act as your RE, your AFSL requirements are less complex as we assume licenced responsibility for many key areas of the operation of your fund. We can also help you obtain the AFSL you require.
You are able to focus on your primary roles:
TFS provides the expertise you need for setup and ongoing compliance and administration.
Your fund is brought to market rapidly as you do not have to do your own research and learning in areas outside your area of expertise.
Having an independent and experienced partner such as TFS acting as your Responsible Entity / Trustee may give prospective investors confidence in your scheme and attract their investment.
Your costs are reduced through economies of scale and the value of our relationships with key External Service Providers (ESPs).
The role of TFS as Responsible Entity for a scheme covers the following areas of fund activity:
TFS can work with you to refine the design of your fund and investment process.
We will:
Once the fund is established, TFS manages the compliance function, leaving you to focus on the investment management role.
In terms of the ongoing operation of your fund, we monitor and ensure compliance with the fund compliance plan. Key elements of this process are the establishment and regular meeting of a compliance committee and a regular, formal compliance reporting cycle.
For the operation of your fund, the administrator and custodian are the key ESPs. We use our experience and knowledge of the industry to select the most suitable administrator and custodian.
Following their appointment, TFS approves all unit prices, distributions, financial reports and regulator lodgments. We monitor ESP performance to ensure that your fund is compliant and functioning according to its mandate.
By leveraging off our existing RE infrastructure and experience, we are confident we can help you to achieve a reduction in your annual fund operating costs in the order of 40%.
Actual costs are dependent upon the level of services TFS provides – contact us for a quote.
Download/view Overview as PDF.
TFS is a joint venture of Clime Investment Management Limited (ASX code CIW; ACN 067 185 899) and Business Operations and Compliance Systems Pty Ltd (ACN 121 101 773).
TFS or one of the TFS joint venture partners may also provide capital to an investment managers and / or seed funding to a fund.
If you need assistance with the compliance and risk management framework and other requirements necessary to obtain an Australian Financial Services Licence (AFSL) and other licences for your fund, our partner business Business Operations and Compliance Systems can assist you.
© Total Fund Services Ltd 2009-. ACN 120 380 627 AFSL 308868
+61 416 241 067
+61 2 8233 6111
PO Box R1999
Royal Exchange
New South Wales 1225
AUSTRALIA
Level 12
37 Bligh Street
Sydney
Location – Google Maps