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Description

The Fund Depositary: Safekeeping, Oversight and Asset Protection

Position the depositary's role within the post-trade chain and strengthen controls over collective investment funds

  • 2 days — 14 h
  • In-person or virtual
  • Intermediate
  • Up to 6 participants

A fund depositary is neither a simple account keeper nor a subcontractor of the management company. Between the safekeeping of assets, the oversight of the regularity of investment decisions and the monitoring of cash flows, its remit remains poorly understood by operational teams, who often discover it only when a reconciliation break appears or an instruction is refused.

Two hours to clarify the depositary's duties, the allocation of responsibilities with the management company and the practical sequence of controls applied to a fund. This short format focuses on the friction points encountered day to day between portfolio management and the depositary.

Learning objectives

  • Describe the duties entrusted to a fund depositary
  • Distinguish asset safekeeping from position keeping
  • Position the respective responsibilities of the depositary and the management company
  • Identify the controls applied to investment decisions
  • Handle a reconciliation break between portfolio management and the depositary

What makes this programme different

The actual sequence of a depositary control on an investment transaction
Cases of refused instructions explained from both parties' perspective
A working framework for resolving reconciliation breaks

Programme

1The depositary's remit

Three distinct duties

  • Asset safekeeping and position keeping
  • Oversight of the regularity of investment decisions
  • Monitoring of cash flows
  • Interaction with the custodian and account keeper

2Day-to-day controls

What the depositary actually verifies

  • Verification of the fund's investment rules and restrictions
  • Control of subscriptions and redemptions
  • Valuation and reconciliation of positions
  • Processing of corporate actions

3The relationship with the management company

Responsibilities and friction points

  • Depositary agreement and delegation arrangements
  • Grounds for refusing to execute an instruction
  • Management of reconciliation breaks
  • Return of assets and information obligations

Who is it for

Staff in post-trade and middle office functions as well as portfolio managers and internal control officers in asset management companies.

Prerequisites

Familiarity with the general structure of a collective investment fund and with asset management terminology.

Dates & locations

36 scheduled dates between November 2026 and December 2027. Seats are confirmed in the order enquiries are received.

November 2026

December 2026

January 2027

February 2027

March 2027

April 2027

May 2027

June 2027

September 2027

October 2027

November 2027

December 2027

None of these dates suit you? We open additional sessions on request, and any programme can be run privately for your team.

Practical details

Before the programme
Online positioning questionnaire. Your development objectives are shared with the trainer, who tailors the practical case studies to your context.
Teaching methods
Theoretical input, workshops and practical case studies. Digital course materials and method sheets provided.
Assessment
Multiple-choice tests and role-play exercises. Assessment of learning at the start and end of the programme, with immediate and 60-day follow-up evaluations.
After the programme
One year of access to the e-learning platform. Self-assessment of the skills acquired and a 30-day follow-up session with your trainer.
How to register
Registration online or on the basis of a quotation.
Lead time
11 working days after confirmation of registration.
Accessibility
Accessible to people of determination. Contact our accessibility coordinator to design a suitable solution: contact@mpf-academy.ae
Start dates
Rolling intake: in addition to the scheduled sessions, this programme can start on request.