We offer real asset custody services to hold, safeguard and administer assets including cash, property, mortgages, private equity, infrastructure and debt securities.
Service What we do Advantages of using Equity Trustees Custody Services Trustee and Custodian for direct property funds “Responsible Entity” (for retail funds) Trustee (for registered and unregistered property funds with wholesale or institutional investors); Custody Holds assets and executes related documentation. Executes related documentation as the owner of record of the assets. Maintains bank accounts and makes payments as required for the operation of the trust. Provides annual audit reports on internal controls and compliance with regulatory requirements. Holds the necessary licences, authorisations and complies with ASIC and other legal requirements. Has the ability and experience to act as a Managed Investment Trust (MIT) and Attribution Managed Investment Trust (AMIT) Trustee. Provides separate group entities to perform the functions of sub-Trustee, Custodian or sub-Custodian (as required by a particular structure). Holds indicia of title to assets as a party independent of fund managers. Assists the fund manager by executing lender documentation as the owner of record of assets securing borrowings. Makes payments as requested by the fund manager and enhances investor confidence by controlling the bank accounts. Provides a robust compliance framework independent of the fund manager. Escrow Agent Escrow of “restricted shares”: Escrow of cash, bank guarantees / other assets: usually holds funds deposited for a period of time by an intending purchaser until a specific transaction is competed to the satisfaction of both the purchaser and the vendor. If the transaction does not proceed the Escrow Agent returns the funds to the purchaser, if it does, pays them to the vendor. Assets can range from real estate, industrial equipment, shares and intellectual property. Assurance that ‘restricted shares’ – usually “vendor shares” - are escrowed for varying periods according to the Listing Rules of the ASX. The escrow arrangement facilitates transactions between parties by introducing certainty that the buyer’s intentions are serious and that the vendor will not sell the asset in question before the buyer has completed its due diligence and finance (if required). Negotiating power with all the major banks for favourable deposit rates. Must be directed by both the buyer and vendor thus providing confidence for both those parties that their respective expectations in the transaction will be safeguarded. Examples of where we act as Escrow Agent; The purchase of an Australian enterprise by foreign entities The sale of local distressed assets to a foreign buyer by an external administrator The holding and distribution of disputed share portfolio controlled by a liquidator.