Fund Reporting

Bridge Consulting provides bespoke services to UCITS, AIF investment funds and management companies domiciled in Ireland. A number of Bridge employees are seconded to undertake the executive managerial functions of your fund or management company and fulfil the regulatory substance requirements.

UCITS Designated Individual Reporting

Bridge Consulting appoints Designated Individuals to self-managed investment companies and management companies under the UCITS regime. The Designated Individuals fulfil the executive substance requirement of these companies.

The Designated Individual is a pre-approved control function under the Fitness & Probity Regulations of the Central Bank Reform Act 2010.

The day-to-day role includes:

  • On-going review and oversight of the delegates
  • Assistance with Organisational Effectiveness
  • Comprehensive annual due diligence of all service providers
  • Escalation and resolution of issues with the Board of the Fund
  • Maintenance and upkeep of Fund documentation
  • Completion of Central Bank of Ireland’s  ONR online reporting returns
  • Representation and reporting at Board Meetings

 

AIFM Designated Individual Reporting

Bridge Consulting appoints consultants to internally-managed AIFs and to AIFMs in a number of pre-approved positions, including risk, compliance and finance functions. In addition, Bridge appoints Designated Individuals to the 6 key management functions.

The appointments fulfil the day-to-day executive management functions of the AIF/AIFM ensuring it is not considered a ‘Letter-Box Entity’.

AIFM Substance Requirement Bridge AIFM Reporting Solution
Have the necessary resources and expertise to supervise delegated functions bridge-tick
Retain ultimate responsibility for delegated functions bridge-tick
Retain the ability to make key decisions bridge-tick
Retain contractual rights over delegates bridge-tick
Ensure that tasks delegated do not exceed the totality of the tasks remaining within the AIFM bridge-tick

The day-to-day role includes

  • Fully independent Risk Monitoring and Risk management services
  • Ownership of Programme of Activity, Risk Management Process and Compliance Manual
  • Assistance with Organisational Effectiveness
  • Comprehensive annual due diligence of all service providers
  • Ongoing oversight and supervision of the Delegates of the Internally Managed AIF or AIFM
  • Assistance with Central Bank of Ireland’s ONR online reporting returns including Annex IV reporting

MLRO Services

Bridge Consulting has a dedicated team of experienced Anti Money Laundering Reporting Officers who currently act as MLRO to fund clients.

The MLRO will ensure adequate controls are in place to identify and prevent instances of money laundering. The MLRO is the escalation point for transactions that are deemed to be potentially suspicious.

The service has been designed to lead the way in best market practice and includes:

  • Suspicious transaction reporting
  • Oversight of the AML/KYC control environment
  • Review of administrator reporting
  • Ownership of company AML Policy document
  • Provision of annual AML training
  • Annual review of Administrator
  • Review of changes in regulatory requirements
  • Liaison with the Central Bank 

Fund Establishment and Structuring

Bridge offers flexible assistance to support asset managers establishing new fund structures in Ireland, adding value where required.  Our service can provide all or part of the following:

  • Assistance in determining the optimal structure for the product
  • Tailoring investment strategies to fit UCITS/AIF requirements
  • Evaluation/selection and appointment of appropriate service providers
  • Assistance with identifying suitable independent non-executive directors
  • Provision of Designated Individuals
  • Preparation of Business Plan and ancillary documentation
  • Establishment of reporting structures with service providers
  • Provision of Money Laundering Reporting Officer
  • Secondments, interim managers and specialist solutions

Bridge works with a wide range of global asset managers and all of the main service providers in Ireland, making us ideally placed to advise on optimal solutions for all fund structures.

Service Provider Review/Selection

Bridge has extensive working relationships and knowledge of all the main service providers in Ireland and is best placed to assist asset managers in partnering with the most appropriate service providers.  Building the most appropriate partnerships at set up is key.

Our  evaluation and selection of service providers includes all or part of:

  • Shortlisting appropriate contenders
  • Undertaking full Request for Proposal (‘RFP’) process
  • Comprehensive fee analysis and negotiation
  • Review of value-add services including middle and back-office operations
  • Ongoing monitoring and due diligence where required