How is CRS/FATCA reporting done by the Irish SPVs in the Programme?
The Irish SPVs are Reporting Financial Institutions for purposes of CRS/FATCA, but it reports no “reportable accounts” because all holders of the issued notes are reporting financial institutions that have the responsibility for doing the relevant CRS/FATCA reporting. The Irish SPVs, through their Trustees, make a filing to that effect.
How is portfolio management with a FlexETP superior to an LLC or partnership?
For a manager, the FlexETP Program provides complete administration services by some of the most well-known and top-tier financial institutions in the world, allowing the Manager to concentrate entirely on managing assets and growing the size of their portfolio. Furthermore, Investors in partnerships and limited liability companies are required, in most jurisdictions, to realize capital gains and losses in the year of the transaction. However, when the investor invests in the managed portfolio through a FlexETP the investor will not realize a taxable event until the note is sold or redeemed.
How much does it cost to establish a FlexETP?
The cost to establish a FlexETP is very competitive and designed to allow for low risk launch and inexpensive maintenance. Final costs depend upon several factors, including, among other things, the types of underlying assets and the issue size. For information about the costs of establishing a FlexETP for your investment portfolio or special project please contact our client relations team at [email protected]
How can issuing a FlexETP earn an advisor more revenue?
Administration costs inherent in managing investment portfolios average just less than one percent of assets under management, exclusive of management fees. By utilizing a FlexETP as an investment management vehicle the Manager can reduce these administrative costs by as much as forty percent or more with the savings being passed through to the client or retained by the advisor in the form of an increased management fee. In addition, the FlexETP’s distribution advantages and efficient administration allow managers to focus on growing their assets under management.
Who manages the strategy behind the FlexETP?
The strategy is managed by an appointed Portfolio Manager. The investment strategy is defined on the Issuance documents according to the Portfolio Manager’s direction. Also, the Portfolio Manager may establish the terms for their Management fee, which will be disclosed in the Issuance Documentation.
How long does it take to issue more notes?
It takes about 8 business days to issue an additional tranche on an existing FlexETP Series.
How long does it take to issue a FlexETP?
The timing to complete an issuance is around 4 weeks for the FlexETP Fund and about 6 weeks for the FlexETP Wrapper and Loan. Issuance timing is dependant on a timely completion of the initial term sheet by the Portfolio Manager.
Who can issue a FlexETP?
A FlexETP Series is issued by the program’s Issuer at the request of an investment advisor, developer or project manager as the named Portfolio Manager. The Portfolio Manager has full control of the investment strategy, though for legal purposes has no issuer-related liability. FlexFunds can arrange a FlexETP issuance for many kinds of investment professionals, such as registered investment advisors, portfolio managers, broker-dealers, family offices, and other money and asset managers.
Who is FlexFunds?
FlexFunds LLC. is the Arranger in respect of the Notes and is appointed as Calculation Agent, and as such shall be responsible for certain management and administrative functions in relation to the Notes.
Is there Issuer risk on the FlexETPs?
The characteristics of the Issuer as an orphan SPV (owned by Charitable Trust Companies) ensures that there is no Issuer risk related to actions by the Issuer or any of its shareholders. Furthermore, all underlying assets of all FlexETPs and any rights and benefits resulting from them are secured to the Trustee for the benefit of Noteholders (investors).
Who issues the FlexETP?
The Issuer of the program is an Irish public limited liability company that has been established as a Special Purpose Vehicles. The principal activity of the Issuer is the issuance of FlexETP Notes.
What is a FlexETP?
A FlexETP is an exchange-traded product (in the form of a note) that provides a solution for investment management and distribution. The FlexETP’s price is linked to the value of the underlying assets or Portfolio.