Detailed below are the duties and responsibilities of Montaque Securities International, Ltd. ("MSI") regarding each of the described functions in respect of private mutual funds.
A. Corporate Services
- Provides all office staff and accommodation required by the Fund and maintains the principal corporate records and all financial records of the Fund.
- Effects the issue of shares and accepts subscription monies.
- Calls and holds all meetings of shareholders.
- Effects the redemption of shares.
- Arranges for publication of the Funds net asset value in such periodicals as may be requested by the sponsor.
- Maintains the register of shareholders.
- Maintains records in respect of each shareholder/partner including subscription agreements, correspondence, transfer forms, redemption request net asset value in such periodicals as may be requested by the sponsor.
- Maintains the register of shareholders.
- Maintains records in respect of each shareholder/partner including subscription agreements, correspondence, transfer forms, redemption requests, etc.
- Arranges for preparation and filing of the Fund's local regulatory and annual tax filings as necessary.
- Communicates to shareholders/partners all pertinent information on the Fund including net asset value, dividend distributions and mailing of interim and annual reports (both financial and performance reports).
B. Fund Accounting/Valuation Services
In addition to the responsibilities described above, MSI provides comprehensive accounting services as detailed below.
- Maintains full accounting records for the Fund.
- Calculates the Fund's net asset value on a periodic basis.
- Prepares portfolio valuations, financial statements, and other reporting, as required.
- Arranges for annual audit of the Fund's books and records.
- Prepares and files the Fund's audited annual financial statements.
- Calculates and disburses dividends to shareholders, as approved by the Board.
- Calculates and arranges for payment of fees for the investment advisors, custodian and administrator.
- Reviews invoices and disburses payments for legal fees, accounting fees, government fees and all other expenses of the Fund.
- Reviews the provision of services provided by the Fund's independent accountants.
- Establishes accounting policies for the Fund.
- Reconciles accounting issues with the Fund's officers, independent accountants, legal counsel, advisor and custodian, as necessary.
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