Fund administration is managed by the SBM Fund Services Ltd (SFS), a member of the SBM Group. The company is licensed and regulated by the Financial Services Commission (FSC) to conduct Registry and Transfer agent services and CIS administrator services. It is also authorised by the Ministry of Finance to act as Debenture Holder's Representative.
Capabilities
Over the years, SBM Fund Services Ltd has developed the capacity to provide registry, fund accounting and administration services. The company currently provides Fund Administrator & Corporate Services to CIS funds, pension mandates and discretionary portfolio mandates. SFS has capabilities in valuation and fund administration of local and foreign equities, fixed income instruments and structured products among others.
SFS also acts as Registry and Transfer agent for SBM Holdings Ltd, listed on the Stock Exchange of Mauritius. Under these mandates, it supports over 20,000 investors and processes over 75,000 dividend payments per annum. It also provides registry services to SBM Group for its USD and MUR bonds. In addition, SFS acts as registrar for local and foreign investment funds.
Service Offering
The Company delivers its services through 2 main channels namely
(i) Fund Administrator & Corporate Services and
(ii) Registry & Transfer Agency.
To achieve better results in terms of quality and standards, different functions have been assigned to dedicated personnel to implement the respective processes.
Fund Administration
- Administration of different fund structures and back-office outsourcing
- Independent reconciliation of the portfolio to brokers/custodians/banks
- Liaising with regulatory authorities and communicating with investors
- Tax compliance services (annual returns and quarterly returns under the Advance Payment Program)
Fund Accounting
- Net Asset Value calculation and investor reporting
- Bookkeeping and preparation of annual financial statements and management accounts
- Monitoring and recording all corporate actions
- Daily Cashflow reporting
Corporate Services
- Ensuring that all funds are in full compliance with ongoing regulations and licensing conditions
- Coordination of Board Meetings
- Filing of Statutory Returns
Transfer Agency - Fund Services
• Process all investor mailings, subscription and redemption requests for funds business
Registry – Fund Services
• Handling investor documentation
• AML and Know-Your-Customer procedures
• Compliance with investor eligibility norms
• Investor query handling and communication
Transfer Agency – Corporate Services
• Provision of transfer agency, paying agency and settlement functions for corporate clients
Registry – Corporate Services
• Maintenance of Shareholders’ register for corporate clients
• Debenture Holder Representative Services
• Trustee services