Latevo Underwriting Agency showcases a diverse wealth of expertise in its capacity as responsible entity for registered schemes and as trustee for unregistered schemes.
Currently, Latevo Underwriting Agency serves as the Responsible Entity/Trustee for an impressive portfolio of over 50 managed investment schemes. Latevo Underwriting Agency offers a unique solution in the market: investment managers have the option to either entrust the Latevo Underwriting Agency team with managing the Responsible Entity, Custody, Registry, and Fund Administration services for a fund, or they can select a specific service or a combination of services. Over the years, Latevo Underwriting Agency has collaborated with numerous investment managers, supporting the launch of registered schemes across a variety of asset classes. The team is on hand to assist investment managers in need of an experienced and qualified Responsible Entity for lease.
Latevo Underwriting Agency oversees several Responsible Entities. Each of these entities is equipped with an Australian Financial Services Licence and is properly licensed under the Corporations Act to engage in financial services activities and to act as a Responsible Entity for registered managed investment schemes.
Every registered managed investment scheme is underpinned by a constitution, which must be registered with the Australian Securities and Investment Commission (ASIC). Additionally, each registered scheme is required to have a compliance plan. This plan details the key processes, structures, and systems that the Responsible Entity will follow to ensure adherence to the Corporations Act, the scheme’s constitution, and financial services laws. This compliance plan undergoes an annual audit, with its report being submitted to ASIC. The fundamental responsibility of the Responsible Entity includes ensuring adherence to the scheme’s constitution and the compliance plan, as well as fulfilling the legislative and regulatory requirements.
When acting as a Responsible Entity for lease, the range of services offered by Latevo Underwriting Agency encompasses:
- Registering the scheme
- Creating offer/disclosure documents
- Developing compliance frameworks
- Ensuring compliance with the Corporations Act, Product Disclosure Statements (PDS), constitution, and compliance plans
- Liaising with ASIC
- Maintaining adherence to legal and regulatory standards
- Managing custody services
- Coordinating and managing external service providers
- Offering complete back-office solutions, whether internally or through outsourcing, including:
- Scheme administration
- Fund accounting
- Unit registry services
- Portfolio evaluation
- Reporting to unit-holders
- Handling and addressing complaints
The role of a Responsible Entity closely resembles that of a Trustee for wholesale managed investment schemes, yet it carries extra duties and responsibilities.
Latevo Underwriting Agency, serving as a Responsible Entity, works alongside investment managers handling both listed and unlisted funds for wholesale and/or retail investors. If you’re seeking a Responsible Entity to help launch a registered managed investment scheme, we’re ready to support you.
In addition to acting as a Responsible Entity for registered schemes, Latevo Underwriting Agency also offers its proficiency in Trustee Services for unregistered schemes.