Managed Accounts: IMA's

Individually Managed Account’s (IMA's) are becoming increasingly appealing to experienced investors because funds can be invested individually and not part of a pool of funds, allowing the investor more control over the stocks they hold. There are also a number of other advantages for investors related to portability and tax efficiencies.  

Grosvenor Pirie’s specialist expertise in investment management allows us to provide the essential services to managed account providers, operating a series of registered and unregistered schemes for a group of fund managers.

The managers do the investing whilst Grosvenor Pirie provides the infrastructure (back office, investor-related compliance, audit, reporting, distribution and other requirements).

Does Grosvenor Pirie provide Approved Trustee or Responsible Entity services?

We do not act as an Approved Trustee or Responsible Entity.  We adhere to the premise that you should focus on what you do best.  The role of AT or RE is a significant undertaking and would be considered when your organisation has significant FUM.

We have a number of external providers, and we have also worked with a number of organisations to obtain the correct AFSL classification to be an RE.

In the case of an “Unregistered Scheme” we would take on a role in the Trustee company.

What does Grosvenor Pirie offer as part of its Administration service?

  • Account holders Register
  • Applications / Redemptions
  • Cash inflows
  • Cash outflows
  • Auditing
  • Execution of corporate actions 
  • Account holders customer service
  • Technical Call centre

Production of Offer Documents

Prospectus / Information Memorandum / Product Disclosure Statement and Forms

  • Grosvenor Pirie works closely with each client on Offer documents.  
  • The production of the IMA/PDS/IM is usually one of the most time consuming tasks when establishing a service and we provide valuable input into the production and contents of the documents.

Audit and Compliance

  • The Managed Account service is audited by an external auditor.
  • Grosvenor Pirie has a preferred Auditor but can liaise with a client’s auditor. In both cases we ensure that external audit fees are kept to a minimum.
  • Grosvenor Pirie’s business operations are subject to regular audit and our accounts are audited by an independent auditor.

Reporting

  • Portfolio Reporting: Gives a full valuation broken down by asset class.
  • Performance: Performance of each portfolio over a selected date range.
  • Transaction: Lists all buys and sells, brokerage and fees and charges deducted in respect to the portfolio.
  • Income and Expenses:  A list of all income and expenses including franking credits.
  • Tax reporting: Tax reporting for each portfolio.

Reporting: Investor activity reporting

  • The Promoters / Managers are provided with online access to a set of investor activity reports: Reporting includes: Investors activity: investment inflows / outflows, Investors balances, Fund statistics etc..
  • These reports are available online or can be e-mailed on a regular basis, if preferred.
  • An extensive set of reports will be prepared and sent to you.  The reports will cover: investor activity (new and terminated), compliance, cash flow and income statements, new investments and redemptions, changes to the Grosvenor Pirie’s Disaster Recovery Plan, complaints (new and ongoing) and other matters as required.
  • Other reports, such as mandate limit reports can be delivered on a needs basis.  This will need to be discussed further with Grosvenor Pirie.

Does Grosvenor Pirie provide any reporting on the operations of the Managed Account service from a compliance point of view?

  • An extensive set of reports is prepared and sent to the Promoter / Manager.  
  • The reports cover investor activity (new and terminated), compliance, cash flow and income statements, new investments and redemptions, complaints (new and ongoing), and any changes to Grosvenor Pirie’s operational procedures.

Paperless office ~ electronic archive:

  • All documentation will be scanned and filed by investor name and unique investor reference number.  All documentation will be retained for ten (10) years and will be either returned to you or destroyed ~ as per your direction.
  • All scanned documents can be e-mailed to the Promoter / Manager or authorised advisors immediately.
  • Grosvenor Pirie’s specialist expertise in investment management allows us to provide the essential services to managed account providers, operating a series of registered and unregistered schemes for a group of fund managers.
  • The managers do the investing whilst Grosvenor Pirie provides the infrastructure including back office, investor-related compliance, audit, reporting, distribution and other requirements.

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