Master KAG

What is a Master-KAG?

A Master-KAG consists of special assets – usually special funds – with several sets of books (segments). As management company, Erste Asset Management largely fullfils administrative tasks.

  • Portfolio management is fully or partially outsourced to external managers who are liaised with by a specialised team.
  • Our modern system infrastructure facilitates the effective and safe processing of data (integrated front-to-back solution SimCorp Dimension).
  • Our clients are optimally informed by individual, tailormade reporting solutions and online reporting tools (EAM Online).
  • A Master-KAG solution increases your level of efficiency and transparency.

How does a Master-KAG work?
 

wie funktioniert eine master kag

Schematic representation of a Master-KAG including several segments and different asset managers.

Advantages of a Master-KAG

  • Simpler administration (one investment company, one custodian bank)
  • Optimised costs and taxes
  • Increased flexibility due to simpler change of management
  • Improved benchmarking due to standardised valuation processes
  • Consolidated overview of all holdings (spot transactions and derivatives)
  • Comprehensive measurement of performance and risk
  • Increased transparency due to daily and standardised reporting
  • Handling of statutory reporting (e.g. according to the Austrian Pension Fund Act, Solvency II, and the Austrian Insurance Supervisory Act)
  • Consistent documents from one provider, and individual advisory
Unsere Strategien fuer alle Assetklassen

Services offered by a Master-KAG

Investment company

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  • Launch of funds, segmentation, liquidation
  • Compilation and coordination of, and amendments to, the statutorily required documents (e.g. fund terms and conditions, KIID, management agreements, accounting reports)
  • Share certificate valuation and validation (price priorities, valuation sources)
  • Risk management (daily monitoring of legal and client-specific investment guidelines, among others)
  • Performance controlling
  • Handling of statutory reporting
  • Calculation and withholding of management fees earmarked for the manager
  • Tailormade reporting

Custodian bank

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  • Logging of all transactions in the fund, alignment of current accounts and depositary accounts
  • Replication of all transactions on the depositary account of the fund in the books
  • Validation of the transactions with regard to validity and plausibility
  • Compilation of year-end evaluation (as basis for the annual report)
  • Execution of dividend distribution, accounting for capital measures
  • Creation and maintenance of the master data of all securities and derivatives

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Disclaimer

This document is an advertisement. All data is sourced from Erste Asset Management GmbH, unless indicated otherwise. Our languages of communication are German and English.

The prospectus for UCITS (including any amendments) is published in Amtsblatt zur Wiener Zeitung in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to § 21 AIFMG is prepared for the alternative investment funds (AIF) administered by Erste Asset Management GmbH, pursuant to the provisions of the AIFMG in connection with the InvFG 2011.

The fund prospectus, Information for Investors pursuant to § 21 AIFMG, and the key investor document/KID can be viewed in their latest versions at the  web site www.erste-am.com or obtained in their latest versions free of charge from the domicile of the management company and the domicile of the custodian bank. The exact date of the most recent publication of the fund prospectus, the languages in which the key investor document is available, and any additional locations where the documents can be obtained can be viewed on the web site www.erste-am.com.

This document serves as additional information for our investors and is based on the knowledge of the staff responsible for preparing it at the time of preparation. Our analyses and conclusions are general in nature and do not take into account the individual needs of our investors in terms of earnings, taxation, and risk appetite. Past performance is not a reliable indicator of the future performance of a fund. Please note that investments in securities entail risks in addition to the opportunities presented here. The value of shares and their earnings can rise and fall. Changes in exchange rates can also have a positive or negative effect on the value of an investment. For this reason, you may receive less than your originally invested amount when you redeem your shares. Persons who are interested in purchasing shares in investment funds are advised to read the current fund prospectus(es) and the Information for Investors pursuant to § 21 AIFMG, especially the risk notices they contain, before making an investment decision.

Please consult the corresponding information in the fund prospectus and the Information for Investors pursuant to § 21 AIFMG for restrictions on the sale of fund shares to American citizens. Misprints and errors excepted.