We have extensive experience in providing independent trustee services to unit trusts, working with investment managers worldwide, particularly in Japan, Hong Kong, Singapore.
The presence of an independent trustee is becoming increasingly important for investor confidence and is invaluable when resolving potential conflicts among the various parties involved in the unit trust structure. Intertrust provides the services of Cayman trustee through a market leading team of highly experienced professionals who bring to the trust independent oversight of its service providers and a high standard of ongoing governance to safeguard the interest of investors.
Drawing from a wide pool of resources covering legal and fiduciary knowledge bases, we are uniquely placed to provide effective trustee services. Our team members have the credibility which comes from many years of experience in Cayman fund structures, and a hands-on approach which enables them to assist managers by providing an extensive and insightful knowledge of Cayman Islands laws and regulations.
We pride ourselves on our responsiveness across time zones, our technical expertise and market appreciation.
Our areas of expertise
We act as trustee of a large number of unit trusts, including some award winning funds. We have extensive experience of working on several types of structures, from stand-alone unit trusts for single and for multi-investors, to large platform structures for multiple managers.
Most of our unit trusts are intended for Japanese investors, some offered through private placement and others in the retail market. Some are part of a master-feeder structure which involve Cayman exempted companies which can accept non-Japanese investors. If requested, Intertrust can provide director services to a corporate master entity.
We are familiar with the process of marketing and distribution in Japan. We work with Japanese counsel to ensure that all necessary disclosures are set out in the offering memorandum of the fund and we provide the documents necessary for registration in Japan. We understand the need for appropriate registration and licensing of the distributor and the requirement that twice yearly reports must be filed with the Japan FSA.
Several of our funds have wide distribution in Japan which involves marketing material, posters etc. and frequent updating of promotional material. We are involved from the outset in reviewing the documents for the unit trust and ensuring that the roles of the respective parties are clearly defined and that all proper disclosures are made to ensure transparency for the investors. On an on-going basis we liaise with all services providers, including the fund auditors, to monitor activity and to ensure that the interests of unit holders are protected.
As a Cayman based trustee we are well placed to keep the service providers up to date with regulatory developments in the jurisdiction and our team members are very involved in local organisations (for example the Cayman Islands branch of the Alternative Investment Management Association) which monitor changes in legislation and practice within Cayman and more generally in the funds industry globally. We can ensure that CIMA requirements are applied and that local fillings are made as necessary.
Our Tokyo representative office, established in 2008 and staffed by professionals fully bilingual in Japanese and English, can assist with on boarding and also with on-going correspondence between the trustee and the investment manager,
providing invaluable assistance within Asian time zones.
We have developed a first-class reputation for quality assurance, based on the following:
- Annual visits by Trustee representatives to Asia to meet with investment managers and service providers
- Licenced and regulated by the Cayman Islands Monetary Authority
- Compliance with all industry and regulatory standards and a guidance note in relation to the provision of fiduciary services
- Subject to regular regulatory reviews
- Robust and well established procedures manual, precedents and knowledge management systems
- Customised, client specific operating procedures
- First-class professional staff.
- Robust dual authorised signatory arrangements
- Representative office in Tokyo - experienced bilingual staff
- Comprehensive professional indemnity insurance (details available upon request)