What we do for you

Our Services

pancura offers a comprehensive suite of solutions for AIFs investing in Real Assets such as Real Estate and Private Equity. Our complementary services will be adapted to the specific needs and requirements of your AIF project. Click on the services below to learn what we can do for you.

Portfolio Management

Our clients always start with the same question when they want to launch an AIF: “Shall we set-up our own Management Company/AIFM or rent a Management Company?”

Obtaining your own license as AIFM can be quiet cumbersome, cost intense and time wise unpredictable. It requires as well in depth expertise in corporate governance and the right profiles and substance to set up your own Management Company.

To short cut this process and to be quickly operational a 3rd Party AIFM might be the best solution.

We offer 2 models of Portfolio Management:

AIFM - Portfolio Management Advisory Model

The core functions of Portfolio Management and Risk Management are performed by pancura whereas the client acts as initiator and advisor to the fund.

AIFM - Portfolio Management Delegation Model

Delegation of Portfolio Management to the Fund Initiator (if duly licensed in his home jurisdiction)

The Investment Advisor or Delegated Portfolio Manager is responsible for the strategy of the AIF, but pancura will: 

  • Closely cooperate and partner with the Investment Advisor / Portfolio Manager;
  • Review and execute the investment strategy;
  • Monitor and review the investment process;
  • Assess investment compliance with the agreed investment strategy;
  • Supervise delegated functions (Portfolio Management).

Risk Management

pancura assists AIFs in performing the following tasks:

  • Analysing and defining the risk profile of the AIF;
  • Reviewing and implementing risk management policies;
  • Ongoing risk monitoring on asset and portfolio level;
  • Monitoring the investment process to be in line with the AIFMD;
  • Reviewing valuation process and the valuation policy.

pancura takes over the following tasks & responsibilities:

  • Regular stress testing of the liquidity risk of the AIF;
  • Initial due diligence and ongoing monitoring of 3rd Party service providers;
  • Providing a comprehensive summary risk report prior to any transaction (investment, disposal).

 

Services: Valuation

pancura will be responsible for the proper valuation of the AIF and its underlying assets and will therefore:

  • Establish the valuation policy and review the valuation process;
  • Ensure the independent valuation of the AIF's assets;
  • Supervise the NAV calculation process;
  • Assist in the selection process and monitor the external valuer(s)/appraiser(s).

Marketing & Distribution

The AIFM Directive changed the landscape of distribution/marketing of AIFs within the EU:

  • pancura will support the notification process for the distribution of the AIF within the EU;
  • The AIF will benefit from pancura’s “EU Marketing Passport“;
  • pancura may support clients in identifying & monitoring distributors in the EU and other markets.

Reporting

Based on information provided by the Investment Advisor/Asset Manager/Property Manager, pancura will establish Portfolio & Risk Management reports. 

The reports will cover amongst others the following topics:

  • Portfolio reporting
  • KPI and KRI
  • Shareholder activity specific reporting
  • Investment restrictions
  • Risk Reporting, such as:
    • Counterparty risk
    • Market risk
    • Liquidity risk
    • Operational risk
    • Credit risk
  • Complaints.

Fund Set-up & Launch Support

The fund launch process can be a cumbersome process as various parties are involved in preparing the fund launch: 

  • pancura supports its clients by applying a stringent project management discipline during the set-up phase of the fund; 
  • a dedicated project manager will be assigned to the project taking ownership and a lead function steering the process;
  • a fund launch plan will be maintained capturing the major milestones as well as the essential steps;
  • pancura could also assist in the selection process of the necessary service providers for the fund.