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 fulfills 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?
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
Services offered by a Master-KAG
Investment company
- 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
- 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
Disclaimer
This document is an advertisement. Please refer to the prospectus of the UCITS or to the Information for Investors pursuant to Art 21 AIFMG of the alternative investment fund and the Key Information Document before making any final investment decisions. Unless indicated otherwise, source: Erste Asset Management GmbH. Our languages of communication are German and English.
The prospectus for UCITS (including any amendments) is published in accordance with the provisions of the InvFG 2011 in the currently amended version. Information for Investors pursuant to Art 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 Art 21 AIFMG, and the Key Information Document can be viewed in their latest versions at the website www.erste-am.com within the section mandatory publications 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 Information Document is available, and any additional locations where the documents can be obtained can be viewed on the website www.erste-am.com. A summary of investor rights is available in German and English on the website www.erste-am.com/investor-rights as well as at the domicile of the management company.
The management company can decide to revoke the arrangements it has made for the distribution of unit certificates abroad, taking into account the regulatory requirements.
Detailed information on the risks potentially associated with the investment can be found in the fund prospectus or Information for investors pursuant to Art 21 AIFMG of the respective fund. If the fund currency is a currency other than the investor's home currency, changes in the corresponding exchange rate may have a positive or negative impact on the value of his investment and the amount of the costs incurred in the fund - converted into his home currency.
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.