Custody Process

What is the Custody Process?

As the qualified custodian for your fund, we establish an account on behalf of the Fund and custody all of its underlying assets in the Fund’s name. Quarterly Fund statements can also be sent to the Fund and all Fund participants if required.

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  • To open the account, the Fund provides a signed fee proposal and completed account paperwork.
  • Our Private Fund Custody service fees are tailored to reflect the fund’s status, structure, complexity, and level of custody service to be provided.
  • The Fund Manager will be introduced to a dedicated Senior Account Manager who is available for assistance on day-to-day account and operations activities.

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  • Establish a relationship with any investment sponsors/platforms/issuers necessary to begin the purchase or re-registration process.
  • If the Fund is working with a lender, we will work with your counsel on any legal agreements needed with the lender for funding, verification, etc.

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  • Quarterly statements are created and submitted to the Fund Manager for review
  • Upon acceptance by the Fund Manager, statements are generated and mailed
  • Supply secure data access and downloads to authorized individuals
  • Deliver data integration to a wide variety of portfolio management systems

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If you have additional questions, please contact us. One of our Regional Sales Directors will be happy to answer your questions.

Contact Us
  • Account Set-up

    x

    • To open the account, the Fund provides a signed fee proposal and completed account paperwork.
    • Our Private Fund Custody service fees are tailored to reflect the fund’s status, structure, complexity, and level of custody service to be provided.
    • The Fund Manager will be introduced to a dedicated Senior Account Manager who is available for assistance on day-to-day account and operations activities.
  • Asset Purchase/Registration

    x

    • Establish a relationship with any investment sponsors/platforms/issuers necessary to begin the purchase or re-registration process.
    • If the Fund is working with a lender, we will work with your counsel on any legal agreements needed with the lender for funding, verification, etc.
  • Ongoing and Quarterly Activity

    x

    • Quarterly statements are created and submitted to the Fund Manager for review
    • Upon acceptance by the Fund Manager, statements are generated and mailed
    • Supply secure data access and downloads to authorized individuals
    • Deliver data integration to a wide variety of portfolio management systems
  • More Questions? Contact Us

    x

    If you have additional questions, please contact us. One of our Regional Sales Directors will be happy to answer your questions.

    Contact Us

Ongoing Support

Whether the fund is self-administered or handled by a third party fund administrator, Millennium Trust provides a full complement of expert custody services. The individual fund and fund manager are assigned an account administrator to meet the unique needs of their fund.

Independent Checks and Balances

 

Qualified Custodians

  • Hold assets (cash & securities)
  • Process payments and receive funds
  • Accept orders for trade execution and clearing
  • Send “fund-level” account statements directly to individual investors
  • Send statement of all activity to fund

Fund Administrators

  • Asset valuation
  • Processes subscription/redemption documents
  • Provides “investor-level” statements to individual investors