Depositary Lite Services
Waystone provides independent depositary services for managers of non-EU domiciled alternative investment funds in the United Kingdom (UK).
Our administration solutions experts assist clients with the Alternative Investment Fund Managers Directive (AIFMD) regime and work to ensure they meet their depositary requirements in a timely and efficient manner. We help clients navigate the UK regulatory landscape with confidence while maintaining operational efficiency. This approach allows fund managers to focus on their investment strategy, knowing that their depositary obligations are being met by a trusted, independent partner with deep expertise in AIFMD requirements and the alternative investment fund sector.
Depositary Services Across the UK and Europe
Our services extend across the key financial centres of:
- England
- Wales
- Scotland
- Ireland
- Luxembourg
- Switzerland
Our Depositary Service Offering
Cash flow monitoring (Article 21.7 of AIFMD)
Waystone’s depositary services involve comprehensive cash flow monitoring for Alternative Investment Funds (AIFs), ensuring that all cash movements are properly accounted for. This includes:
- Monitoring cash flows to detect unusual transactions.
- Reconciling cash flow movements against AIF records.
- Reviewing and maintaining all cash accounts to comply with regulatory standards, as stipulated by the AIFMD.
Ownership verification of non-custody assets (Article 21.8(b))
Waystone verifies the ownership of non-custody assets held by the AIF, ensuring that all records and legal ownerships are accurately maintained. Our services include:
- Accessing relevant asset information to perform accurate ownership verification.
- Maintaining a detailed record of all non-custody assets.
- Verifying asset ownership through independent sources at valuation points.
Oversight function (Article 21.9)
Waystone’s depositary team performs oversight functions to ensure that the AIF operates within its legal and regulatory frameworks. These services include:
- Monitoring compliance with investment restrictions and leverage limits.
- Ensuring that investor transactions are correctly processed.
- Verifying that trades are settled promptly and that the AIF’s income is applied correctly in line with its rules and constitutional documents.
- Establishing robust escalation procedures for reporting irregularities.
Benefits of Our Depo Lite Services
By partnering with Waystone, AIF managers can focus on growing their portfolios while relying on a strong framework for depositary oversight and regulatory compliance. Other advantages to working with us include:
- Minimum disruption: Waystone’s depositary services are designed to integrate seamlessly with your operations, ensuring minimum disruption to your business. Our solutions are recognised as the most effective in the market, providing streamlined processes that reduce complexity for clients, allowing them to focus on core investment activities.
- Expertise: Our team of industry professionals brings deep expertise to depositary services, delivering high-quality support to AIFMs and Boards of Directors. With decades of experience in regulatory compliance and fund oversight, we ensure that clients receive precise, informed advice that enhances operational efficiency and governance.
- Outstanding client service: At Waystone, we pride ourselves on offering outstanding client service, underpinned by a deep understanding of stakeholder needs. We collaborate closely with our clients to tailor depositary solutions that meet their specific requirements, ensuring responsive, high-touch support throughout our engagements.
Why Choose Waystone as Your Depositary Service Provider
Our depositary services provide independent oversight while supporting your fund’s operational and regulatory needs. With a strong presence across key financial hubs, Waystone delivers consistent, tailored solutions that give fund managers confidence and peace of mind in a complex and evolving regulatory landscape.
Whether you are launching a new fund or seeking a more efficient depositary arrangement, Waystone offers the guidance, expertise, and flexibility to meet your specific requirements. Contact us to learn more.
Frequently Asked Questions
Depositary services are independent oversight functions provided to AIFs to safeguard assets, monitor cash flows, and ensure that funds operate in compliance with legal and regulatory requirements, such as the AIFMD. Depositary service providers like Waystone act as a trusted, impartial party to protect investors and support fund managers in fulfilling their regulatory obligations.
Waystone’s experts assist clients in meeting AIFMD obligations through cash flow monitoring, ownership verification of non-custody assets, and oversight of investment and operational activities. This ensures funds operate within regulatory frameworks while maintaining investor protection standards.
Yes. Whether you are launching a new fund or seeking a more efficient depositary arrangement for an existing fund, our flexible solutions are tailored to meet your operational and regulatory needs.
We provide depositary services across the United Kingdom and key financial centres in Europe.