Custody

Overview

Mainspring provides dependable, high-quality custody and administration services to EIS and co-investment funds, as well as other complex managed account structures for family offices and IHT / BPR funds. We are regulated to provide nominee and custodian services and authorised to safeguard cash and assets for investors.

The safeguarding of client money and client assets is an integral part of any managed account structure. Investor client service and reporting are an extension of the fund managers brand. Choosing the right firm to carry out the regulatory and service functions for your fund is key to successful operations, regulatory compliance as well as developing your business.

Mainspring is an award-winning fund administrator that works with a range of clients in the alternative investment industry from larger established fund managers to new entrants. We support our larger fund managers clients with the daily activity associated with administering a large active fund whilst also helping emerging managers launch and offer investors a professional well managed trusted investment platform. Our service is designed to grow with our client’s offering and adapt to their evolving requirements.

Key Contact – Natasha Head

   

Key Services

Receiving Agent

We receive and store investor application forms, AML and KYC records and other investor specific documentation, as required and hold the investor records for the fund. Investor monies are received and held in a segregated client account, specific to each fund manager and its investors, and we report all receipts to the fund manager each day.

Custody & Client Money

We provide custody for the fund’s assets and hold investor’s cash in our client accounts (we have both onshore and offshore client accounts). We perform daily cash reconciliations for the life of the fund, ensuring all receipts, investments, fees, distributions, dividends and interest are recorded and allocated to individual investors every day. We report monthly to the FCA on the assets we hold.

Nominee

Mainspring Nominees Limited is our FCA authorised and regulated firm and through its the nominee company, MNL Nominess Limited, holds the legal title to the shares in the investee companies on behalf of the investors.

Transactions & Payments

We arrange the trade and settlement of fund investments and, under the manager’s instructions, sign the investment documentation on behalf of the nominee, which is the shareholder. We process daily any payments for investments, distributions, expenses or fees under the manager’s instruction.

Online Reporting Portal

We provide a secure online portal for investors and their advisers where they can view their personal fund reporting, such as valuation reports, contract notes, tax statements, EIS3 certificates and any other reporting. The fund manager can view reporting across the whole fund for all the investors and have access to up-to-date fund level data in multiple formats. Managers can brand this portal and have a link to it on their website.

High Quality Reporting

Our industry-leading IT infrastructure means we capture all transactional and payment information at a granular level. This enables us to provide high-quality personalised reporting to the fund investors. The investor level and fund level reports can be formatted as required and tailored to include as much detail as the manager chooses.