Investment Administration and Custodial Services
Taupo Moana Funds (TMF) provides advanced industry-strength investment administration services via the TMF System.
What is the ‘TMF System’ ?
The TMF System is a technology-based administration system managed by FNZ that accounts for your funds and provides you with the necessary reporting.
TMF protects your investments by providing comprehensive record keeping and utilising the advanced monitoring system. Through the TMF System you will receive the following investment administration services:
- A convenient means of acquiring and selling securities
- A recording system showing all securities you hold within the system and all transactions
- The holding of securities by a registered trustee company on bare trust for you individually
- A secure means for paying money into the TMF System and receiving payments from it
- Comprehensive regular and on-request reporting.
Who is the custodian company and
what does it do?
FNZ Custodians Limited is the recognised trustee company that is independent of the Administrator and TMF. FNZ Custodians Limited holds your investments in its name but you are always the beneficial owner and it is you who decides, either directly or via TMF, how your investment portfolio is managed.
Through the TMF System, you authorise the custodian to:
- Buy, sell and hold investments on your behalf
- Receive benefits, and exercise rights, in relation to your investments.
TMF out sources its investment administration to FNZ Limited, who has appointed FNZ Custodians Limited to be the (Bare Trustee) custodian.
A Bare Trustee is simply an arrangement where a Trustee holds title to assets on behalf of another and who acts on behalf of the beneficial owner. The Bare Trustee has no discretionary power and must act only on instruction from the beneficial owner.
The main reason these structures are in place is for independence, administrative efficiency and risk management.
- Client assets are held independent of the investment manager and administrator
- The custodian provides an extra set of checks and balances and minimising the risk of fraud
- Assets are administered efficiently a professional custodian who has systems in place to eliminate paperwork and other manual processes.
