Depository for Financial Assets in Germany and Luxembourg
With more than 30 years of experience, HAL offers all services related to the depositary function for liquid assets. We support our clients from the initial idea through to advice on conception and the launch process - and of course afterwards throughout the entire product life cycle. In this way, we work individually and reliably for more than 500 funds in Germany and Luxembourg.
The tasks of a depositary
The depositary is an independent entity acting in the interest of the investors, which performs tasks of technical settlement, custody of the investment assets and various control functions. These controls include, depending on the jurisdiction:
- Daily controls in accordance with the requirements of the Luxembourg Fund Law and the KAGB.
- Parallel calculation and control of the net asset value or release
- Reconciliation for monetary accounts, securities portfolios, options and futures as well as forward exchange transactions and verification of the number of units issued
- Ex-post control of compliance with legal and contractual investment limits (in own system, according to model 2)
- Daily depository reconciliation
- Issuing and redemption of fund certificates
- Verification of proof of ownership
- Regular monitoring of valuations in accordance with the sales prospectus
- Daily monitoring of cash flows
- Verification of the contractually stipulated appropriation of earnings
“Depositaries have a crucial verification role for the entire investment spectrum covered by funds. They are guarantors of the highest possible protection for investors and at the same time stand by the asset manager with individual advice and support.”
Anja Schlick, Head of Relationship Management Financial Assets
Securities trading, liquidity management, foreign exchange hedging and more
Our services go far beyond the conventional services of a depositary. Our customers have access to the following additional services:
- Order execution via our order and execution desk
- Trading and settlement of all major financial instruments
- Currency hedging
- Liquidity investment
- Fixed income sales
- Opening and management of foreign currency accounts
- Settlement of payment transactions
- Custody of physical gold
- Annual general meeting service
- Management of investor deposits for special funds (AIFs)
- Performance of the paying agent function
- Fund trading (set-up and connection of platforms)
- Calculation and routing of trail commissions for funds of funds
- Securities lending
- Assumption of function of legal representative
- Withdrawal of physical securities of mutual funds issued in Germany by our partner CMCs
Our services for mutual funds (UCITS) and special funds (AIFs)
Our range of services as a custodian for liquid assets includes the following services
- Custody of classic financial instruments, precious metals and bank balances
- Input and maintenance of securities master data
- Performance of all corporate actions
- Application of double tax treaties
- Participation in class actions
- Preparation of depository reporting
- Processing of dividends, mergers, prospectus changes
- Support with the refund of withholding tax
- Opening of documentary markets
Cooperation with capital management companies
For a first-class service, we offer a one-stop-shop solution in Luxembourg with our group's own capital management company or cooperate with CMC cooperation partners in Germany and Luxembourg:
Additional Services in the Financial Assets Sector
For clients in the liquid assets sector, we offer a range of professional value-added services designed to help you succeed.
