PFS-PAXUS is a specialist accounting and administration application system for the alternative fund administration industry. Within the fund administration industry the shareholder record keeping process goes by many different names; transfer agency, investor services, shareholder services, unit registry, share registry to name but a few.

Regardless of title, PFS-PAXUS can be used to perform this function either as a fully integrated fund administration system or in isolation as a pure share registry platform as a functionally rich Shareholder Registry module exists within PFS-PAXUS.

To support the complex structures that exist in the alternatives industry such as multi-series structures, equalisation, partnerships and private equity, the share registry features of PFS-PAXUS include:

    • Full share registry capabilities
    • Investor and related party details including contact information, bank account details, regulatory information etc.
    • Transaction entry
    • Control parameters including redemption terms etc.
    • Fees and Commissions
    • Lot level tracking
    • Equalisation and series performance fees and consolidations
    • Distributions
    • Workflow functionality, including AML, for highly configurable control
    • AML Screening
    • Detailed diagnostic/exceptions reporting
    • Automated FATCA, CRS, Form-PF and AIFMD Annex IV data capture and reporting
    • Automated allocation, including private equity structures
    • Investor Communications, including encryption, for all standard communication types
    • Document and Image Linking
    • Integrated with PFS-CONNECT (web portal)
    • Pricing and NAV Publishing
    • Transaction Regeneration
    • Full audit trail
    • Cash Management

     

    Key Focus Areas include:

    ACCOUNTING & REGISTRY

    Share registry transactions can be entered manually or can be uploaded from a formatted spreadsheet. Future trade can be entered and the estimated value of that trade will update automatically if and when NAVs are confirmed, ensuring that liquidity forecasts provide the most up to date estimates.

    SHAREHOLDER INFORMATION

    PFS-PAXUS allows users to record all of the necessary information relating to shareholders, brokers, intermediaries and related parties, including an extensive list of shareholder contact and identification details alongside all of the necessary regulatory and tax classification information. All records within PFS-PAXUS can be ring-fenced to ensure that only users with approved access can see or edit the relevant information. Records can be stored in encrypted format to meet specific jurisdictional requirements where necessary.
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    SERIES CONSOLIDATION

    PFS-PAXUS enables users to create series groups and create a new series of shares based upon an existing series of shares. At the end of the incentive fee calculation period, the series can be consolidated or ‘rolled up’ automatically into the lead series within the fund class (or any other profitable series as the fund particulars dictate).

    INVESTOR STATEMENTS

    Acknowledgement letters, Contract notes, NAV statements, Transaction statements and many other types of investor communications can be generated within PFS-PAXUS ready for issue by post, to be sent by email or sent from a facsimile server. Copies can be sent to an unlimited number of related third parties as required. The Statement Builder functionality included in the application allows users to design their own statement formats and link the designs to individual funds. A language translation feature provides additional multi-lingual support.

    EQUALISATION

    PFS-PAXUS fully supports the calculation and collection of incentive / performance fees via the industry standard methodologies, including series of shares method and the equalisation method to ensure that incentive fees are equitably accounted for and reported accordingly.

    DOCUMENT & IMAGE LINKING

    Documents and images stored on the network can be linked to certain PFS-PAXUS system tables, the practical application of which can achieve multiple operational efficiencies. For example this functionality would allow the image of an authorised signatory list to be linked to a number of different investors, with the image link accessible via each investor record thus simplifying the signature verification process.

    AML

    PFS-PAXUS supports the collection, monitoring and reporting obligations of statutory Anti-Money Laundering requirements, enabling users to define and maintain AML checklists depending on the fund, category, jurisdiction and/or location of the individual investor. Outstanding or outdated documentation can be easily identified and followed up with by utilising existing PFS-PAXUS reports and investor communication templates. The features of the AML module are intuitively integrated within the core Share Registry module so that users can be warned or stopped from undertaking certain actions where necessary, allowing internal policies and procedures to be incorporated and safe guarded within the system itself. Expired or outstanding AML related documentation can be automatically requested and chased up. With regards to the ongoing and timely monitoring of all counterparty information against World-Check, PFS-PAXUS is able to interface with third party software to actively facilitate this important process. PFS-PAXUS system administrators can implement, monitor, report and change all AML related controls where necessary, demonstrating compliance and evidencing active follow up where needed.

    AUTOMATED TRANSACTIONS

    Shareholder transactions can be manually input, entered by the investor directly via PFS-CONNECT, uploaded via a trade file or via interface.
    An interface with the Calastone network permits PFS-PAXUS to process share registry transactions received through the Calastone global transaction network.

    REGULATORY REPORTING

    PFS-PAXUS contains detailed and comprehensive functionality to manage regulatory global and local reporting responsibilities, including FATCA, FINRA’s Private Fund Reporting Depository for Hedge Funds, Annex IV, Form PF, CRS (Common Reporting Standards). A number of regional regulatory and tax reports exist for various jurisdictions including Luxembourg, Australia, Canada, USA and UK. More details are available on request.

    INTEGRATED OPERATIONAL WORKFLOWS

    PFS-PAXUS allows users to record all of the necessary information relating to shareholders, brokers, intermediaries and a workflow module tracks user-defined workflow checks against each share registry transaction and controls system actions according to fund level preferences. Automated chaser letters can be generated to follow up with investors for missing documentation.

     

    A full list of generic reports and a sample report pack can be provided upon request at information@pacificfundsystems.com

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