Expert and systematic handling of your fund’s administrative processes
Woodfield offers a comprehensive suite of Investor Services, including:
Investors are becoming increasingly concerned about the lack of adequate controls on the movement of money from unregulated private investment funds.
Although not required by law or regulation, Woodfield has a robust system of financial controls in place to protect the integrity of your fund. These controls are designed to require the approval of both Woodfield and the Fund in order to transfer money to a third party.
This system relies on the principle of joint control (the Fund and Woodfield) on the movement of cash and also separation of duties within Woodfield. Moreover, the bank account is generally held at a major institution that has elaborate security safeguards and other controls, such as ACH debit blocks.
We take care of all aspects of processing investor subscriptions and redemptions. When an investor subscribes to your fund or requests a redemption, we will perform the functions necessary to process the transaction, including:
- Reviewing subscription documents
- Issuing confirmation notices
- Contacting the investor to obtain needed information, such as determining proper tax classification
- Verify authenticity and eligibility of redemption requests
- Determining how the investor wishes to receive communications
- Handling all anti-money laundering (AML) and Know Your Customer (KYC) compliance
- Calculating distribution amounts
- Initiating wire transfers and other activities related to this function.
Subscriptions and Redemptions Flowchart
Woodfield will ensure your fund’s compliance with Anti-Money Laundering (AML) requirements of local regulatory bodies, including:
- Verifying investor identity
- Documenting transactions
- Verifying fund origins
- Verifying transferee identity
- Checking all investors against AML watch lists, including the Office of Foreign Assets Control (OFAC) list and maintaining records related to AML investigations.
We will distribute offering documents to prospective investors, maintain a distribution list to comply with private offering regulations, and maintain files with signed original copies of all subscription documents.
Your investors can opt to receive their monthly statements via any or all of the following distribution methods:
- first class mail
- email with the statement as an attachment
- download from a secure website using a username and password
Additionally, the investor could make the statement available to an unlimited number of other individuals, such as their accountant, by means of the two electronic methods.
- Individual investors can view current investor account statements as soon as they are produced, or at their convenience
- Secure connection accessed via a web browser
- Clients are notified by email whenever a new statement is added to the website
We will monitor the percentage of your fund’s capital that has been contributed by Benefit Plan Investors to ensure compliance with DOL regulations regarding capital contributed by ERISA investors. In addition to monitoring ERISA we will also monitor the investor slots in use for your fund to insure compliance with limits on the number of investors.