Institutional Custody | Custodian - Millennium Trust Company

Institutional Custody

Gain a Strategic Advantage with Institutional Custody

We are your ally in the custody of investment assets — both traditional and alternative — to help you meet regulatory standards and high client expectations. In our role, we act as an independent qualified custodian to help you comply with the SEC custody rule and focus on providing institutional-quality investment operations.

Learn about the Custody Rule

What We Offer

We provide secure solutions to help you meet the Custody Rule requirements, provide enhanced transparency to investors, and deliver necessary reporting, through our Fund Custody, Safekeeping and Verification Services. Some take advantage of all three services, while others require only one, but Millennium Trust is your ally for the solutions that best fit your needs.

Fund Custody

We service more than 500 private, ’40 Act, and offshore funds, while we maintain a custody process that adapts to the unique needs of each fund. To see the many services provided in our Fund Custody solution, take a look at our Institutional Custody fact sheet.

Download Fact Sheet

Safekeeping

There may be situations where you need to place documents in safekeeping with a custodian. Millennium Trust allows you to place into safekeeping physical and electronic documents that are evidence of ownership in alternative assets.

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Verification

For fund managers that need a line of credit, many lenders require third party verification. Millennium Trust’s verification services provide the fund and the lender with the necessary certification that is needed.

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  • Fund Custody

    Fund Custody

    We service more than 500 private, ’40 Act, and offshore funds, while we maintain a custody process that adapts to the unique needs of each fund. To see the many services provided in our Fund Custody solution, take a look at our Institutional Custody fact sheet.

    Download Fact Sheet
  • Safekeeping

    Safekeeping

    There may be situations where you need to place documents in safekeeping with a custodian. Millennium Trust allows you to place into safekeeping physical and electronic documents that are evidence of ownership in alternative assets.

    Learn More
  • Verification

    Verification

    For fund managers that need a line of credit, many lenders require third party verification. Millennium Trust’s verification services provide the fund and the lender with the necessary certification that is needed.

    Learn More
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 statements can also be sent to the fund and all participants if required.

  • Account Set-up
    • To open the account, the Fund provides a signed fee proposal and completed account paperwork.
    • Our 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
    • 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
    • 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

Institutional Custody Connect

Client service administrator
Account administrator helping people

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.

Fund Custody Structure

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

Want to learn more?

The Case for a Custodian Whitepaper

HCG Allies with Millennium Trust for Fund Custody Solutions

Institutional Custody Solutions Factsheet

Qualified Opportunity Zone Funds: What You Need to Know

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